CO. APPL No. 4 of 2010 · Rajasthan High Court
Case at a glance
Provisions considered
- Companies Act, 2013 s. 391
Judgment
:: 26/02/2010 Hon'ble Mr. Justice Ajay Rastogi Mr. Sandeep Taneja, for applicants Counsel submits that transferor Cos. (1) Om Kothari Enterprises Ltd & (2) Nextmile Tradecom Ltd having proposed for amalgamation with transferee Company (Jupiter Metal (P) Ltd (applicants), have jointly filed the application U/s 391 of Companies Act, 1956 (“Co. Act”). According to him, transferor & transferee Companies are having share holders and unsecured creditors and having no secured creditors. Both, transferor Companies & transferee Company have given their consent to the proposed scheme of amalgamation; hence meeting is required only for share holders & unsecured creditors. Having considered material on record and so also consent of the applicants Companies, this Court considers it proper to allow the proposed scheme of amalgamation. However, meeting of share holders & unsecured creditors of applicants (Transferor & Transferee Companies) be convened & held at respective registered office of applicants transferors & transferee companies on the dates & time for the purposes as required under law ad infra: Date, Day & Time Share Holders of Co. 06/04/10 11.00 Hrs– Om Kothari Enterprises Ltd Co. Appl. 4/10 //2// 06/04/10 12.30 PM – Nextmile Tradecom (P) Ltd. 06/04/10 03.00 PM – Jupiter Metal (P) Ltd Date, Day & Time Unsecured Creditors of Co. 06/04/10 12.00 Hrs - Om Kothari Enterprises Ltd 06/04/10 01.30 PM – Nextmile Tradecom (P) Ltd. 06/04/10 04.00 PM – Jupiter Metal (P) Ltd
To convene aforesaid meetings, Mr.Nitin Jain (for Om Kothari Enterprises Ltd), Mr.Samit BIshnoi (for Nextmile Tradecom (P) Ltd.) & Mr.J.M.Saxena (for Jupiter Metal (P) Ltd) Advocates are appointed as Chairperson for share holders & unsecured creditors, for respective afore-named applicants Companies, for which each of them shall be paid remuneration of Rs.25,000/- for both the meetings payable by respective applicants-Companies. Atleast 21 clear days before the day appointed for holding meetings ibid, advertisement of notice stating about free copies of compromise or arrangement and of statement required to be furnished pursuant to provisions of Companies Act & Companies (Court) Rules, 1956, as the case may be, be issued and published in daily news papers (1) Rajasthan Patrika (Jaipur Edn) & (2) Financial Express (N.Delhi Edn), for which proper recourse under Company Act & Rules be adopted by Chairperson (supra), who is directed to submit reports about result of meetings (supra) within seven days of its conclusion duly verified by their affidavit. Consequently, company application stands disposed of. (Ajay Rastogi), J. K.Khatri/
Questions this judgment answers
Which statutory provisions did this judgment involve?
Companies Act, 2013 — s. 391.
Which court decided this case, and when?
Rajasthan High Court, on 26 Feb 2010. The bench was AJAY RASTOGI.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.