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Showing contexts for: proxy FORMS in In Re: Larsen And Toubro Limited vs Unknown on 22 April, 2004Matching Fragments
6. Facts and statutory compliances :
A board meeting was held, after due notice to the directors of the respective companies as per Section 286 of the Companies Act to prepare and finalise the draft scheme of arrangement in question. On September 4, 2003, after due deliberation on the proposals, the board of directors of the petitioner-company and the demerged company approved the scheme of arrangement in question.
7. On November 3, 2003, the restructuring agreement was executed between the demerged company, Grasim, Samruddhi, the resulting company and the trust. On November 19, 2003, and November 25, 2003, respectively, the Bombay Stock Exchange and the National Stock Exchange have issued no objection letters to the demerged company in terms of Clause 24 of the Listing Agreement. On December 12, 2003, Company Application No. 540 of 2003 was filed by L & T by way of judges summons, supported by an affidavit as per Form No. 33 and affidavit in Form No. 34 read with Rule 67 of the Company Rules, 1959. By the orders dated December 12, 2003, and December 18, 2003, it was directed to convene meetings of the secured creditors including debenture holders, unsecured creditors including fixed deposit holders and equity shareholders of the petitioner-company for the purpose of considering and approving the said scheme of arrangement. The requisite meetings were accordingly held on February 3, 2004, at Mumbai. As required under the Companies Act and Rules, specially Section 393 read with Rule 73 of the Companies (Court) Rules, notices of the meetings together with a copy of the said scheme, the statement, the form of proxy and attendance slips were sent individually to the secured creditors including debenture holders, unsecured creditors, including fixed deposit holders and equity shareholders as required by the order of the court. As per Rule 74 of the Company Rules, the notice of the said meetings was advertised in the Free Press Journal (Mumbai edition), Navshakti (Marathi edition) and in all English editions of the Times of India.