2016 (5) TMI 1395

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..... ree Company, for appropriate orders for dispensing with the meeting of the Equity Shareholders, Preference Shareholders, Secured and Unsecured Creditors of the Applicant Transferee Company and for considering the Scheme of Arrangement, as annexed at Annexure" I" to the Application. 2. The affidavit filed in support of Judges' Summons by Mr.Jayesh Patel, Company Secretary of the Applicant Transfer .....

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..... Accountant is annexed at "Annexure - J" certifying the list of Equity Shareholders. 4. It is submitted by Ms.Dharmishta Raval, learned advocate for the applicant, that the convening and holding the meeting of the Preference Shareholders of the Applicant Transferee Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Arrange .....

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..... be offered to the Secured Creditors and the Secured Creditors of the Applicant Company will be paid in the ordinary course of business. It is submitted by Ms.Dharmishta Raval that the Applicant Transferee Company undertakes to send individual notice to the Secured Creditors and on receipt of the view/opinion of the Secured Creditors the same will be informed to this Court. A Certificate by the Ch .....

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..... red Accountant is annexed at "Annexure-N" certifying that the Applicant Transferee Company will have substantial networth post Arrangement to discharge all its liabilities of the Unsecured Creditors. 7. This Court has heard learned counsel for the applicant and considered the documents produced along with the Judges' Summons with the affidavit. The following order is passed: (a) The meeting of .....

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..... plicant Transferee Company shall send individual notices to the Secured Creditors and on receipt of the views/opinion of the Secured Creditors, this Court shall be informed of the same. (d) The meeting of the Unsecured Creditors of the Applicant Transferee Company is dispensed with, in view of the fact that the rights and interest of the Unsecured Creditors is not affected by the proposed Scheme .....

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