9911796707
TMI Blog2015 (7) TMI 1248X X X X Extracts X X X X X X X X Extracts X X X X ..... ra 6 of the affidavit in support of the Judges' Summons. It has been pointed out that the applicant being a listed public limited company, pursuant to clause 24(f) of the Listing Agreement, the applicant company has obtained the requisite approval from the concerned stock exchanges viz. BSE Limited and National Stock Exchange of India Limited. A copy of each of them have been placed on record as E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Apar Industries Limited, the transferee company is proposed under Sections 391 to 394 of the Companies Act, 1956. 2. In this regard, the present application is filed by Apar Industries Limited, the applicant transferee company. In the Judges' summons taken out dated 30th June, 2015, it has prayed for dispensation of separate proceedings for the applicant company. Heard Mr.Saurabh N Soparkar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y shall not be in any way affected and hence the separate proceedings for the said transferee company is not necessary. 4. It is further submitted that the aforesaid submission is based on the settled legal position supported by judgments of various High Courts. It is submitted that this view is consistently taken vide the series of judgments inter alia including Sharat Hardware Industries P.Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting Agreement, the applicant company has obtained the requisite approval from the concerned stock exchanges viz. BSE Limited and National Stock Exchange of India Limited. A copy of each of them have been placed on record as Exhibit `E'. Perusal of the same makes it clear that an additional condition has been prescribed by the SEBI with reference to previous acquisition of shares. The same has ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
