COMA 373/2000 October 18, 2000

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

     
     
            COMPANY APPLICATION No 373 of 2000
     
     
     
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            RUPMANGALAM INVESTMENT LTD.
       Versus
            .
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            Appearance:
                 MRS SWATI SOPARKAR for Petitioner
     
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                     CORAM : MR.JUSTICE P.B.MAJMUDAR
     
                     Date of Order: 18/10/2000
     
       ORAL ORDER
     
            #.  Heard the learned advocate Ms.Soparkar.
           
            #.   It  has been stated in para 10 of the petition that,
            so far as  the  members  of  the  applicant  company  are
            concerned,  all  the equity shareholders have given their
            consent in writing agreeing to the scheme of amalgamation
            of the applicant company with the transferee company  and
            that  they  have  also given up their right to attend the
            meeting for the purpose of considering  such  resolution.
            In  view  of  the  aforesaid  facts, especially when such
            written  consent  have   been   given   by   the   equity
            shareholders,  it is not necessary to convene the meeting
            of the equity shareholders for the purpose of considering
            the scheme of amalgamation.
           
            #.   So  far  as preference shareholders are concerned, a
            meeting of the preference  shareholders  of  the  company
            shall  be  convened  and  held at 815, Siddharth Complex,
            Nr.Express Hotel, R.C.Dutt Road, Vadodara -  390  005  on
            Monday, the  20th day of November 2000 at 11.30 a.m.  for
            the purpose of considering and if thought fit, approving,
            with  or  without  modifications,   the   compromise   or
            arrangement   in   the  nature  of  amalgamation  of  the
            applicant company with Span Medicals Limited.
           
            #.  That at least 21 clear days before the day  appointed
            for  the meeting, an advertisement convening the same and
            stating that copies of the said compromise or arrangement
            and of the statement required to be furnished pursuant to
            Section 393 and forms of proxy can be  obtained  free  of
            charge  at  the  registered  office  of  the  company  at
            Vadodara or  at  the  office  of  the  Advocate  for  the
            company,  be inserted once in “Jansatta” Vadodara Edition
            and the “Indian Express” Vadodara Edition and the  notice
            to be inserted in the Gazette is dispensed with.
           
            #.   That,  in  addition,  at  least  21  days before the
            meeting to be held as aforesaid, a notice  convening  the
            said  meeting  at  the place and time aforesaid, together
            with a copy of the compromise or arrangement, a  copy  of
            the  statement  required to be sent under Section 393 and
            the prescribed form of proxy, shall be sent  by  pre-paid
            letter  post  under  certificate  of posting addressed to
            each member at his respective registered  or  last  known
            address.
           
            #.  That Shri Jatinbhai  R.Jalundhwala,  or  failing  him
            Shri  Kiritbhai  Kanjaria  shall  be  the Chairman of the
            meeting to be held on 20th November,2000 as aforesaid.
           
            #.  The Chairman appointed for the meeting do  issue  the
            advertisement  and  send  out  the notices of the meeting
            referred to above.
           
            #.   That  the quorum for the said meeting shall be three
            persons present in person or through proxies.
           
            #.   That  voting  by proxy be permitted, provided that a
            proxy in the prescribed form duly signed  by  the  person
            entitled to attend and vote at the meeting, is filed with
            the  company  at  its  registered  office at Vadodara not
            later than 48 hours before the meeting.
           
            ##.  That the value of each member shall be in accordance
            with the books of the company, and, where the entries  in
            the  books are disputed, the Chairman shall determine the
            value for purpose of the meeting.
           
            ##.  And it is  further  ordered  that  the  Chairman  do
            report  to  this  court  the  result of the said meetings
            within 14 days of the conclusion of the meeting  and  the
            said reports shall be verified by his affidavit.
           
            ##.   That since all the equity shareholders have already
            given their approval to the proposed  scheme  in  writing
            their  meeting is hereby dispensed with as prayed in para
            A of the Judges’ Summons.
           
                                                                   (P.B.Majmudar,J)
            (pathan)