Judgment · High Court · 2011

AND In the matter of the Scheme of Amalgamation of NAXPAR LAB PRIVATE LIMITED, the First Transferor Company AND PARNAX LAB PRIVATE LIMITED, the Second Transferor Company WITH KRISHNA-DEEP TRADE & INVESTMENTS LIMITED, the Transferee Company. PARNAX LAB PRIVATE LIMITED, a company incorporated under the Companies Act, 1956 having its Registered Office at 2 ) ) ) Shivkrupa, Vasant Jagannath Patel Marg, ) Chunabhatti, Mumbai – 400 022. ) …Applicant Company. Called for Summons for Direction Coram: S. J. Kathawalla, J Date : 15th July, 2011 Mr. Rajesh Shah i/b M/s. Rajesh Shah & Co., Advocate for the Applicant MINUTES OF THE ORDER UPON the application of the Applicant Company abovenamed by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah instructed by M/s.Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 15 th June, 2011 of 2 Mr. Prakash Shah, Director of the Applicant Company, in support of the Summons for Direction and the Exhibits therein referred to, IT IS ORDERED:-

That the convening and holding the meeting of the Equity Shareholders of the Applicant Company to consider and approve the proposed Scheme of Amalgamation of NAXPAR LAB PRIVATE LIMITED, the First Transferor Company and PARNAX LAB PRIVATE LIMITED, the Applicant / Second Transferor Company with KRISHNA- DEEP TRADE & INVESTMENTS LIMITED, the Transferee Company is dispensed with in view of the consents given by all the Equity Shareholders of the Applicant Company, which are annexed as Exhibits “C-1” to “C-18” to the Affidavit in support of Summons for Direction.

That the convening and holding of the meeting of the Secured Creditors of the Applicant Company to consider and approve the proposed Scheme of Amalgamation of NAXPAR LAB PRIVATE LIMITED, the First Transferor Company and PARNAX LAB PRIVATE LIMITED, the Applicant / Second Transferor Company with KRISHNA- DEEP TRADE & INVESTMENTS LIMITED, the Transferee Company, is dispensed with in view of the averments made in paragraph 20 of the Affidavit in support of the Summons for Direction. The Applicant undertakes to give an individual notice of date of hearing of Petition by Registered Post A. D. to all its Secured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Maharashtra Times”, in Marathi language, both having circulation in Mumbai. The said undertaking is accepted. 3

That the convening and holding of the meeting of the Unsecured Creditors of the Applicant Company to consider and approve the proposed Scheme of Amalgamation of NAXPAR LAB PRIVATE LIMITED, the First Transferor Company and PARNAX LAB PRIVATE LIMITED, the Applicant / Second Transferor Company with KRISHNA- DEEP TRADE & INVESTMENTS LIMITED, the Transferee Company, is dispensed with in view of the averments made in paragraph 21 of the Affidavit in support of the Summons for Direction. The Applicant undertakes to give an individual notice of date of hearing of Petition by Registered Post A. D. to all its Unsecured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Maharashtra Times”, in Marathi language, both having circulation in Mumbai. The said undertaking is accepted. (S. J. Kathawalla, J.)