Mercer India Private Limted. Vs. Unknown

Mercer India Private Limted. vs Unknown

Type Court Judgment Court Punjab and Haryana Decided Nov 16, 2012

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https://sooperkanoon.com/case/1060255

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Citation: sooperkanoon.com/1060255
Court: Punjab and Haryana High Court
Decided On: Nov 16, 2012
Subject: Land Acquisition

Case Summary

AI-generated summary - not the official court judgment text.

Land Acquisition

Key legal issue: Land Acquisition

Parties & Advocates

Appellant / Petitioner

Mercer India Private Limted.

Respondent

Unknown

Excerpt

.....to be referred to the reporters or not?.”3. whether the judgment should be reported in the digest?.surya kant, j. [oral].c.a.no.635 of 2012 allowed as prayed for. c.p.no.123 of 2012 in this petition under section 391 of the companies act, 1956 read with rule 6 & 69 of the companies (courts) rules, 1959 which is duly supported by affidavits, the petitioner-company seeks dispensation of convening of the meetings of its shareholders and un-secured creditors for sanctioning of the 'scheme of arrangement for amalgamation' (annexure p-1).[2].the registered office of the transferor and transferee companies is at gurgaon (haryana) and new delhi, respectively and are registered c.p.no.123 of 2012 (o&m) ::2. : with the registrar of companies, new delhi. [3].main objects of the transferor company and the transferee company are detailed in their respective memorandum of articles and association annexed with the petition at annexure p-7 and p-9, respectively. [4].the board of directors of the mercer india private limted (petitioner/transferor company) and mercer consulting (india) private limted (transferee company) have approved the scheme of amalgamation in their respective meetings held on 02.08.2012 and 06.08.2012, respectively, vide resolutions annexed at annexures p-12 (colly).[5].the petitioner-transferor company has two equity shareholders and five un-secured creditors as per lists annexed at annexure p-2 and annexure p-5' respectively, and they have consented to the scheme of amalgamation, vide their consents annexure p-3 (colly) and annexure p-6 (colly).the said company has no secured creditor and to this effect a certificate of prem shanker & co., chartered accountants is at annexure p-4. [6].in this view of the matter, convening of the meetings of the shareholders and unsecured creditors of the transferor company are ordered to be dispensed with. since there is no secured creditor of the transferor company, no occassion arises to dispense with their.....

Full Judgment

C.P.No.123 of 2012 (O&M) ::

1. : IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH.

C.P.No.123 of 2012 [O & M].Date of decision:

16. h November, 2012 IN THE MATTER OF SCHEME OF ARRANGEMENT FOR AMALGAMATION OF : Mercer India Private Limted........Petitioner/Transferor Company With Mercer Consulting (India) Private Limted........Transferee Company Present: Mr.Atul V.

Sood, Advocate CORAM: HON’BLE Mr.JUSTICE SURYA KANT.”

1. Whether Reporters of local papers may be allowed to see the judgment?.”

2. To be referred to the Reporters or not?.”

3. Whether the judgment should be reported in the Digest?.

SURYA KANT, J.

[ORAL].C.A.No.635 of 2012 Allowed as prayed for.

C.P.No.123 of 2012 In this petition under Section 391 of the Companies Act, 1956 read with Rule 6 & 69 of the Companies (Courts) Rules, 1959 which is duly supported by affidavits, the petitioner-Company seeks dispensation of convening of the meetings of its Shareholders and Un-Secured Creditors for sanctioning of the 'Scheme of arrangement for Amalgamation' (Annexure P-1).[2].The registered office of the Transferor and Transferee Companies is at Gurgaon (Haryana) and New Delhi, respectively and are registered C.P.No.123 of 2012 (O&M) ::

2. : with the Registrar of Companies, New Delhi.

[3].Main objects of the Transferor Company and the Transferee Company are detailed in their respective Memorandum of Articles and Association annexed with the petition at Annexure P-7 and P-9, respectively.

[4].The Board of Directors of the Mercer India Private Limted (Petitioner/Transferor Company) and Mercer Consulting (India) Private Limted (Transferee Company) have approved the Scheme of Amalgamation in their respective meetings held on 02.08.2012 and 06.08.2012, respectively, vide resolutions annexed at Annexures P-12 (colly).[5].The petitioner-Transferor Company has two Equity Shareholders and five Un-Secured Creditors as per lists annexed at Annexure P-2 and Annexure P-5' respectively, and they have consented to the Scheme of Amalgamation, vide their consents Annexure P-3 (Colly) and Annexure P-6 (Colly).The said company has no secured creditor and to this effect a certificate of Prem Shanker & Co., Chartered Accountants is at Annexure P-4.

[6].In this view of the matter, convening of the meetings of the Shareholders and Unsecured Creditors of the Transferor Company are ordered to be dispensed with.

Since there is no Secured Creditor of the Transferor Company, no occassion arises to dispense with their meeting.

[7].The fiRs.motion petition stands disposed of accordingly.

The petitioner shall be at liberty to move the Second Motion Petition.

November 16, 2012 (SURYA KANT) dinesh JUDGE C.P.No.123 of 2012 (O&M) ::

3. :

Same Court & Year Punjab and Haryana · 2012 Same Parties Mercer India Private Limted. vs Unknown Same Subject Land Acquisition