9911796707
TMI Blog2016 (3) TMI 1259X X X X Extracts X X X X X X X X Extracts X X X X ..... or the meeting of the Equity Shareholders, 3 (Three) for the meeting of the Secured Creditors, and 10(Ten) for the meeting of Unsecured Creditors present in person or through authorized representative or through proxy. That voting by proxy is permitted provided that the proxy in the prescribed form and duly signed by the person entitled to attend and vote at the aforesaid meetings, or by his authorised representative, is filed with the applicant Company at its registered office at Dalpur, not later than 48 hours before the said meeting. That the value of the vote of each Equity Shareholder of the Company shall be as per the entries in the Registers of the Company and that of the creditors as per the entries in the books of accounts of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to 103 of the Companies Act, 1956. 3. It has been submitted vide Paragraph12 of the affidavit in support of the Judges' Summons that the proposed Restructure of the Capital in the form of the utilization of the Securities Premium Account of the Demerged Company, amounting to reduction of the capital, is consequential in nature and is proposed as an integral part of the proposed Scheme of Arrangement. Further, the proposed reduction does not involve either diminution of liability in respect of unpaid share capital or payment to any shareholder of any paidup share capital and the order of the Court sanctioning the Scheme shall be deemed to be an order under Section 102 of the Companies Act, confirming the reduction. Further, it is prop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the meetings to be held as aforesaid, Notice convening the said meetings, indicating the day, the date, the place and the time as aforesaid, together with a copy of the Scheme of Arrangement, copy of the Explanatory Statement required to be sent under Section 393 of the Companies Act, 1956 and the prescribed Form of Proxy shall be sent by a prepaid letter posted under Book Post, addressed to each of the Equity Shareholders, the Secured Creditors and Unsecured Creditors of the applicant Company, at their last known addresses. The lists of Shareholders and Creditors with their names and addresses shall be placed on record by the applicant Company. A certificate shall be obtained from the Postal Department confirming the total number of dispat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (s) and to ascertain the decision of the meetings on a poll. 10. That the quorum for the said meetings shall be 10(Ten) for the meeting of the Equity Shareholders, 3 (Three) for the meeting of the Secured Creditors, and 10(Ten) for the meeting of Unsecured Creditors present in person or through authorized representative or through proxy. 11. That voting by proxy is permitted provided that the proxy in the prescribed form and duly signed by the person entitled to attend and vote at the aforesaid meetings, or by his authorised representative, is filed with the applicant Company at its registered office at Dalpur, not later than 48 hours before the said meeting. 12. That the value of the vote of each Equity Shareholder of the Company ..... X X X X Extracts X X X X X X X X Extracts X X X X
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