Kumars Autotech (Pune) Pvt. Ltd. v. -
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 828 OF 2015 In the matter of Companies Act, 1956 (1 of 1956); AND In the matter of Section 391 to 394 of the Act; AND In the matter of Scheme Amalgamation of Yogi Machining And Forging Private Limited (Transferor Company) WITH Kumars Autotech (Pune) Private Limited (Transferee Company) AND Their respective shareholders Kumars Autotech (Pune) Private Limited, ) a company incorporated under ) the Companies Act, 1956 ) having its registered office at ) Gat No. 54/6, Biradwadi Village, ) Chakan Ambethan Road, ) Chakan, Pune - 411050, ) Maharashtra, India ) ... Applicant Company Called for Summons for Directions for hearing Mr. Anurag Mankar, i/b. Ms. Prachi Manekar, Advocates for the Applicant Coram: S. C. Gupte J.
Date: 30th October, 2015
MINUTES OF THE ORDER UPON the Application of the Applicant Company above named by a Company Summons for Directions AND UPON HEARING Mr. Anurag Mankar instructed by Ms. Prachi Manekar, Advocate for the Applicant Company AND UPON READING the Affidavit dated 19th September, 2015 of Mr. Sujithkumar Attuvappil, Director of the Applicant Company, in support of Company Summons for Directions and the Exhibits therein referred to, IT IS ORDERED:
1. That convening and holding the meeting of the Equity Shareholders of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Yogi Machining and Forging Private Limited with Kumars Autotech (Pune) Private Limited and their respective Shareholders, is dispensed with in view of the consent given by all the 29 (Twenty Nine) Equity Shareholders of the Applicant Company, which are annexed as Exhibits G-1 to G-29 to the Affidavit in support of Company Summons for Direction.
2. That the convening and holding the meeting of the Secured (Long term and short term) Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Yogi Machining and Forging Private Limited with Kumars Autotech (Pune) Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 14 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Secured (long term and short term)
Creditors and their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.D to all its Secured (long term and short term) Creditors and also publish the same in two local daily newspapers viz 'Economic Times' in English language and translation thereof in 'Maharashtra Times' in Marathi language, both having circulation in Pune. The said undertaking is accepted.
3. That the convening and holding the meeting of the Unsecured (Long term and short term) Loan Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Yogi Machining and Forging Private Limited with Kumars Autotech (Pune) Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 15 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Unsecured (long term and short term) Loan Creditors and their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.
D to all its Unsecured (long term and short term) Loan Creditors and also publish the same in two local daily newspapers viz 'Economic Times' in English language and translation thereof in 'Maharashtra Times' in Marathi language, both having circulation in Pune. The said undertaking is accepted.
4. That the convening and holding the meeting of the Unsecured Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Yogi Machining and Forging Private Limited with Kumars Autotech (Pune) Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 16 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Unsecured Creditors and their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.D to its Unsecured Creditors having outstanding balance of Rs. 1 Lakh and above and also publish the same in two local daily newspapers viz 'Economic Times' in English language and translation thereof in 'Maharashtra Times' in Marathi language, both having circulation in Pune. The said undertaking is accepted.
(S. C. Gupte, J.) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed order.
Uploaded by: Shri. Shankar Gawde, Stenographer