Indokem Limited v. The Regional Director, Western Region

sg 1/2 cal750-15.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (L) NO.750 OF 2015 IN COMPANY SCHEME PETITION NO.445 OF 2015 Indokem Limited

...Petitioner

vs.

The Regional Director, Western Region

...Respondents

.....

Mr. Hemant Sethi, for the Petitioner.

Mr. H.V. Mehta, for R.D.

.....

CORAM: S.C. GUPTE, J.

DATE : 16 OCTOBER, 2015.

P. C. :- .

The Company Application seeks amendment of a scheme sanctioned by this Court on 4 September 2015. The scheme was given effect by filing a copy of the order with the ROC. After the allotment of shares of the Transferee Company to the shareholders of the Transferor Companies and consolidation of the authorised share capital for the Transferor Companies with the Company as per the scheme, it was realised that even after merger of the capital, there was a deficit in the authorised capital of the Transferee Company. In the circumstances, the Applicant seeks a modification of the scheme, by permitting Transferee Company to increase its authorised share capital by the deficit amount, namely, Rs.11.56 lacs. The Applicant offers to pay the requisite stamp duty and fees with the ROC on that basis. The application is allowed in terms of prayer clause (a). The amendment to be carried out within a

sg 2/2 cal750-15.doc period of two weeks from today. The amended copy of the scheme is to be filed with the ROC. The Applicant to pay the requisite stamp duty and fees of the ROC occasioned by increase in the authorised share capital. All parties to act on the authenticated copy of the application. The application is disposed of accordingly.

(S. C. GUPTE, J.)