Gujarat High Court
Digjam Limited vs Respondent(S) on 18 December, 2015
Author: N.V.Anjaria
Bench: N.V.Anjaria
O/COMP/433/2015 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY PETITION NO. 433 of 2015
In COMPANY APPLICATION NO. 331 of 2015
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DIGJAM LIMITED....Petitioner(s)
Versus
......Respondent(s)
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Appearance:
MS DHARMISHTA RAVAL, ADVOCATE for the Petitioner(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE N.V.ANJARIA
Date : 18/12/2015
ORAL ORDER
1. Heard Ms. D.N. Raval, learned counsel for the petitioner.
2. The present petition is filed by the petitioner - Digjam Limited praying for sanction of Scheme of Amalgamation between Digjam Limited ("Petitioner Company"), and Digjam Textiles Limited and their respective Creditors and Shareholders ("the Scheme").
3. It was pointed out from record that as per oral order dated 02.11.2015 passed by this Court in Company Application No. 331 of 2015, the Petitioner Company was directed to convene the meeting of the Equity shareholders of the Petitioner Company at the registered office of the Petitioner Company, that is, at Aerodrome Road, Jamnagar 361 006, Gujarat on 12th day of December, 2015 at 10.00 am.
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O/COMP/433/2015 ORDER
4. That at least 21 clear days before the meeting, a notice convening the said meeting, at the place and the time as aforesaid, together with a copy of the Scheme of Amalgamation, a copy of explanatory statement and the prescribed form of proxy, was directed to be sent by ordinary post addressed to each equity shareholder.
5. That an advertisement of the notice for convening the meeting was also directed to be published in Gujarat daily 'Jansatta' and English daily 'Indian Express', Ahmedabad editions.
6. It was submitted by Ms. Raval that as per oral order dated 02.11.2015 passed in Company Application No. 331 of 2015, this Court ordered dispensation of meeting of the Preference shareholder who had given its consent to the proposed scheme. The meeting of secured creditors and unsecured creditors were dispensed with by the said order. This Court also directed the Petitioner Company to send individual notices to the secured creditors of the Petitioner Company.
7. The requirements of law up to the present stage have been duly complied with.
8. In the facts and circumstances of the case, following order is passed:
(i) Petition is admitted.
(ii) The same shall be posted for final hearing on Wednesday, the February 10, 2016
(iii) Notice of the petition to be published in Gujarati Daily in "Jansatta" Ahmedabad Edition, and English Daily "Indian Page 2 of 3 HC-NIC Page 2 of 3 Created On Sat Dec 19 02:46:48 IST 2015 O/COMP/433/2015 ORDER Express", Ahmedabad Edition.
(iv) There shall be a notice to Central Government in compliance of section 394(A) of the Companies Act, 1956, through the Regional Director, North Western Region, Ministry of Corporate Affairs, ROC Bhavan, Rupal Park, Ahmedabad.
(v) There shall be notice to the Official Liquidator as per section 394(1) of the Companies Act, 1956.
(vi) Direct service is permitted in addition to normal mode of service.
(vii) The notice in Government Gazette is dispensed with.
(N.V.ANJARIA, J.) cmjoshi Page 3 of 3 HC-NIC Page 3 of 3 Created On Sat Dec 19 02:46:48 IST 2015