2016 (3) TMI 1265

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..... ummons dated 23rd March 2016, under Sections 391 and other applicable provisions of the Companies Act, 1956, in a proposed Scheme of Arrangement in the nature of Buy Back of the Equity Shares of Ferromatik Milacron India Private Limited and Restructure of Share Capital of the Applicant Company, as proposed between the Applicant Company and its Equity Shareholders. 2 Smt. Swati Soparkar, learned a .....

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..... d Creditors as well as the receipt of consent letters from all the Equity Shareholders is annexed as Exhibit' E'. In view of the same, dispensation is sought from convening the meeting of the Equity Shareholders of the Applicant Company. Considering the above facts and circumstances and the submissions advanced, the same is granted. 4 The attention of the Court is drawn to the submissions made in .....

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..... Net Worth of the Applicant Company was Rs. 222.9 crores; Whereas in the Post-Scheme scenario, it shall be approximate Rs. 154.9 crores. 5 The Net Worth being substantially high, and considering the above noted facts and circumstances, and the submissions advanced it is held that the meeting of the Unsecured Creditors, for considering and approving the proposed Scheme, is not necessary and the sa .....

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