Prj Infracon Pvt. Ltd Vs. ----

Prj Infracon Pvt. Ltd vs ----

Type Court Judgment Court Delhi Decided Dec 07, 2012

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https://sooperkanoon.com/case/957415

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Citation: sooperkanoon.com/957415
Court: Delhi High Court
Judge: Indermeet Kaur
Decided On: Dec 07, 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

Prj Infracon Pvt. Ltd

Respondent

----

Excerpt

.....pvt ltd with arham finance & investment services ltd; and (b) reduction of post merger share capital of the transferee company- arham finance & investment services ltd. a copy of the proposed scheme of arrangement is filed along with the application.2. it is stated that the registered offices of both the applicant companies are situated within the national capital territory of delhi and within the jurisdiction of this court”3. mr rajeev k goel, learned counsel for the applicant companies submitted that no proceedings under sections 235 to 251 of the companies act, 1956 are pending against any of the applicant companies as on the date of the present application.4. the proposed scheme has been approved by the board of directors of both the applicant companies.5. status of the shareholders, secured and un-secured creditors of the applicant companies and the consents obtained for the proposed scheme is clearly apparent from the chart given below: company no. of share holders consent given transferor company 22 all nil n.a. nil n.a. transferee company 9 all nil n.a. nil n.a. # no. of secured creditors consent given no. of un-secured creditors# consent given including current liabilities 6. a prayer has been made for dispensation of the requirement of convening meetings of shareholders of the transferor company and the transferee company.7. the in view of the written consents/noc obtained and averments made in application, requirement of shareholders are dispensed with. convening separate meetings of the none of the applicant companies has any secured and un-secured creditors.8. the application stands allowed in the aforesaid terms. order dasti. 7th december, 2012 indermeet kaur, j.2

Full Judgment

$-29 * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment Delivered on:

7. 12.2012 % COMPANY APPLICATION NO.(M) 185/2012 + PRJ INFRACON PVT. LTD ..Applicant/Transferor Company Versus ARHAM FINANCE & INVESTMENT SERVICES LTD. ..........Applicant/Transferee Company Through Mr. Rajeev K Goel, Advocate for the applicants. CORAM: HON'BLE MS. JUSTICE INDERMEET KAUR 1 Whether the Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporter or not? 3. Whether the judgment should be reported in the Digest? INDERMEET KAUR, J.

1. This is a first motion joint Application under sections 391 & 394; 100 to 104 of the Companies Act, 1956, in connection with the Scheme of Arrangement for (a) Amalgamation of PRJ Infracon Pvt Ltd with Arham Finance & Investment Services Ltd; and (b) Reduction of post merger share capital of the Transferee Company- Arham Finance & Investment Services Ltd. A copy of the proposed Scheme of Arrangement is filed along with the Application.

2. It is stated that the Registered Offices of both the Applicant Companies are situated within the National Capital Territory of Delhi and within the jurisdiction of this Court”

3. Mr Rajeev K Goel, Learned Counsel for the Applicant Companies submitted that no proceedings under sections 235 to 251 of the Companies Act, 1956 are pending against any of the Applicant Companies as on the date of the present Application.

4. The proposed Scheme has been approved by the Board of Directors of both the Applicant Companies.

5. Status of the Shareholders, Secured and Un-secured Creditors of the Applicant Companies and the consents obtained for the proposed Scheme is clearly apparent from the chart given below: Company No. of Share holders Consent Given Transferor Company 22 All Nil N.A. Nil N.A. Transferee Company 9 All Nil N.A. Nil N.A. # No. of Secured Creditors Consent Given No. of Un-secured Creditors# Consent Given including current liabilities 6. A prayer has been made for dispensation of the requirement of convening meetings of Shareholders of the Transferor Company and the Transferee Company.

7. the In view of the written consents/NOC obtained and averments made in Application, requirement of Shareholders are dispensed with. convening separate meetings of the None of the Applicant Companies has any Secured and Un-secured Creditors.

8. The Application stands allowed in the aforesaid terms. Order Dasti. 7th December, 2012 Indermeet Kaur, J.

Same Court & Year Delhi · 2012 Same Parties Prj Infracon Pvt. Ltd vs ---- Same Subject Land Acquisition Same Judge Indermeet Kaur