Gujarat High Court
Sun Pharmaceuticals Industries ... vs . .....Respondent(S) on 11 February, 2013
Author: R.M.Chhaya
Bench: R.M.Chhaya
SUN PHARMACEUTICALS INDUSTRIES LIMITED....Petitioner(s)V/S. .....Respondent(s) O/COMP/31/2013 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY PETITION NO. 31 of 2013 In COMPANY APPLICATION NO. 373 of 2012 ================================================================ SUN PHARMACEUTICALS INDUSTRIES LIMITED....Petitioner(s) Versus . .....Respondent(s) ================================================================ Appearance: MRS SWATI SOPARKAR, ADVOCATE for the Petitioner(s) No. 1 ================================================================ CORAM: HONOURABLE MR.JUSTICE R.M.CHHAYA Date : 11/02/2013 ORAL ORDER
1. This is a petition filed by the Transferor company as abovenamed in the proposed Scheme of Arrangement in the nature of Spin off and Transfer of the Domestic Formulation Undertaking of Sun Pharmaceutical Industries Limited to Sun Pharma Laboratories Limited, the Transferee Company. Heard Mrs. Swati Soparkar, learned advocate for the petitioner Transferor Company. It has been pointed out that the registered office of the Transferee Company, having been shifted to Mumbai, the requisite proceedings have been initiated before Hon ble Bombay High Court.
2. It has been submitted that vide order dated 21st December 2012 passed in Company Application No.373 of 2012 (Copy at Annex. I ), meetings of the Secured Creditors and Unsecured Creditors of the company were dispensed with and meeting of the Equity Shareholders of the Company was directed to be convened and the same was duly convened and held on the 25th day of January 2013. The proposed scheme of arrangement was duly approved at the said meeting by the requisite statutory majority of 99.07 % in number and 99.93 % in value by the Equity Shareholders, present and casting valid votes at the said meeting. The Chairman s report along with the affidavit of the chairman dated 1st February 2013 has been placed on record. (Copy at Annex. J ). Hence, the present petition is moved for obtaining the sanction of this court.
3. Admit.
4. To be heard on Friday, the 15th day of March 2013.
5. Notice of Hearing of Petition, to be advertised in Indian Express , English daily, Divya Bhaskar , Gujarati daily, both Vadodara Editions. Publication in government gazette is dispensed with.
6. Notice to the Central Govt. through the Regional Director, North- Western Region, Ministry of Corporate Affairs.
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