Calcutta High Court
CA-769-2016 on 5 October, 2016
Author: Soumen Sen
Bench: Soumen Sen
ORDER SHEET
CA 769/2016
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
RE :MPS METALLICS LIMITED
BEFORE:
The Hon'ble JUSTICE SOUMEN SEN
Date : 5th October, 2016.
Mr. Sabyasachi Chaudhury, Adv., Ms.Manju Bhuteria, Adv., Mr.Ravi Asopa, Adv.
The Court : A meeting of the Unsecured Loan Creditors of MSP Metallics Limited (hereinafter referred to as the "Company") shall be convened and held at Rotary Sadan, 94/2, Chowringhee Road, Kolkata 700 020 on Friday, the 9th day of December 2016 at 3:00 P.M. for the purpose of considering, and if thought fit, approving, with or without modification, the proposed Scheme of Compromise and Arrangement between the Company and its unsecured loan Creditors.
At least 21 (twenty one) clear days before the meeting to be held as aforesaid, a Notice convening the said meeting at the place and time as aforesaid together with a copy of the said Scheme, a copy of the Statement required to be sent under Section 393 of the Companies Act, 1956 and the prescribed form of Proxy by Speed Post or by hand through Personal Messenger addressed to each of the unsecured loan Creditors in the 2 Company be sent at their respective or last known addresses available with the company.
In addition, at least 21 (twenty one) clear days before the date of the said meeting an advertisement convening the same and stating that copies of the said Scheme of Compromise and Arrangement and of the Statement required to be furnished pursuant to Section 393 of the Companies Act 1956 and a form of proxy can be obtained free of charge at the Registered Office of the Applicant company or at the office of their Advocates Messrs Khaitan & Co, 1B, Old Post Office Street, Kolkata 700 001 be inserted once each in the "Pratidin" Bengali newspaper and in "The Financial Express" English newspaper. The publication in the Calcutta Gazette is dispensed with.
The Advocates-on-Record for the Applicant do within 3 days after puja vacation (after obtaining the server copy of this order) file in Court the form of the notices and the statement to accompany the notice and the same shall be settled by the Assistant Registrar (Company) of this Court.
Mr.Ahin Chowdhury, Senior Advocate shall be the Chairperson for the said meeting of the unsecured loan Creditors of the Company to be held as aforesaid at a remuneration of 3000 G.Ms. The Chairperson appointed for the said meeting do issue and send out the notice of the said meeting referred to above.
The quorum for the meeting of the unsecured loan Creditors of the Company may be fixed at 25 (twenty five) creditors present in person or in proxy.
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Voting by proxy be permitted, provided that a proxy in the prescribed form duly signed by the creditor(s) entitled to attend and vote at the meeting, is filed with the Applicant Company at its Registered Office not later than forty eight hours before the meeting. The Chairperson shall have the power to adjourn the meeting, if necessary and do to and exercise all such acts and deed as may be deemed necessary to hold and conduct the said meeting.
The value of the vote of each of the creditor shall be in accordance with the books of the Applicant Company and where entries in the books are disputed, the Chairperson shall determine the value for the purpose of the meeting.
. The Chairperson do report to this Court the results of the said meeting within four weeks from the date of the conclusion of the meeting and its report shall be verified by his affidavit.
Summons be signed as of date. The application is disposed of. Urgent certified photocopy of this order, if applied for, be issued to the parties subject to compliance with all requisite formalities.
(SOUMEN SEN, J.) sd/