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7. In Company Application No. 250 of 1993 filed by TOMCO the court passed an order on April 29, 1993, directing to call the meetings of the debenture holders, creditors, ordinary shareholders and preference share-holders on June 29 and 30, 1993, naming the chairman of the meetings and calling upon him to submit the report within 21 days after conclusion of the meeting. TOMCO filed the notices and explanatory statements under section 393(1)(a) of the Act along with the proxy form before the Company Registrar who after considering all objections settled the explanatory statements and approved the disclosures made therein. Individual notices of the said meetings together with a copy of the scheme of amalgamation, the statement as settled by the Company Registrar and as required under section 393(1)(a) and a proxy form were sent to concerned members as required by law. On June 21, 1993, a joint communication to shareholders of TOMCO and HLL was also sent. Public notices of the meeting were also issued through the print media. The meeting of the ordinary shareholders was held on June 29, 1993, and was attended by 1,294 members holding 85,85,009 ordinary shares and by 1,652 member holding 55,18,251 ordinary shares through proxies. In the said meeting amendment was proposed to the effect that the exchange ratio should be of 5 : 15 shares in place of 2 : 15 shares as envisaged in the scheme. 99.64 per cent of ordinary shareholders voted against amendment and 99.72 per cent. voted in favour of the scheme as proposed. Debenture holders voted 99 per cent., secured creditors voted 100 per cent., unsecured creditors voted 84.30 per cent. and preference shareholders voted 100 per cent. in favour of the scheme. The scheme as proposed was thus approved in all the five meetings by 99.72 per cent. of equity shareholders in terms of value and 86.72 per cent. in terms of number.