9911796707
TMI Blog2006 (8) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... d, if thought fit, approving with or without modification, the scheme of arrangement between Lords Chloro Alkali Limited and its secured creditors. 2. That the applicant-company was incorporated on 1-3-1979 in the State of Punjab originally under the name and style of Modi Alkalies Chemicals Limited. Subsequently in the year 1979 itself, the registered office of the applicant was shifted to Industrial Area, Alwar (Rajasthan). The name of the applicant-company was subsequently changed to Lords Chloro Alkalies Limited on 1-2-2003. 3. The position authorized issued, subscribed and paid-up capital of the applicant company as on date is detailed out in para No. 3 of the application. 4. The main objects of the applicant-company as s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... winding up of the petitioner company. The petitioner company filed an appeal before the Appellate Authority for Industrial and Financial Reconstruction. In the interregnum the dues of PNB, SBI were settled at 26.5 per cent of the principal by effecting payments to the tune of Rs. 61.75 lakhs and Rs. 55 lakhs respectively in full and final settlement of their dues. The IDBI assigned its debts to D DARC, and ICICI had assigned its debts to Sopan Securities Pvt. Ltd. The Indian Bank had also assigned its debt to D DARC while Syndicate Bank had assigned its debt to M/s. First Alert Fire Systems Private Limited. It has been stated in the petition that all the assignees are also prepared to settle their dues at 26.5 per cent of the principal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the meetings an advertisement convening the same and stating that copies of the said proposed scheme of arrangement required to be furnished shall be furnished pursuant to section 393 of the Act, 1956 and forms of proxy can be obtained free of charge at the office of the applicant company or from the office of its advocates be advertised once in the dailies namely, English Newspaper - Hindustan Times (New Delhi Edition) and Hindi Newspaper - Dainik Bhaskar (Jaipur Edition). 8. That at least 21 clear days before the meetings to be held as aforesaid a notice convening the said meetings at the place and time aforesaid, together with the copy of the said scheme of arrangement, a copy of the statement required to be sent under section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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