ilandfs; Engineering and Construction Compa Vs. Wardha Power Company Limited

Decided On : Oct-17-2012

Court : Andhra Pradesh

LAW: the Companies Act, Chapter 10, Chapter 10, the Companies Act, Section 78, the Companies Act, the Companies Act, Section 78(1, Section 100(1, Section 100, Section 101, Section 78(2, Section 100, Section 78, Article 10 to include "share, Section 78(1, Section 78(1, Section 100(1, Section 189(2, Section 189(2)(b, Section 172(1, Section 393(1, section 173, Section 173, Section 173(2, Section 173, the Companies Act, Section 173, section 173(2, Section 393, Section 393, the Companies Act, Section 393, Section 393, Section 393, Section 78, the Companies Act, Section 189(2)(c, Section 205, Section 205, Section 205, Section 100, Section 391, Section 101(2)(ii, Section 101(2, Chapter 10, Section 78(1, the Companies Act, Section 78(1, Section 78(1, Section 101(2, Section 101(2, the Companies Act, Section 101(2, Section 101(2, Section 101(3, Section 101(2, Section 101(2)(c)(ii, Section 101(2, Section 101(3, Section 101(2, Section 102(2)(a)&(b, Section 102(2)(b).67, Section 78, Section 102(2)(a)&(b, section 102, Section 102(2, the Companies Act, Section 391 of the Act, Section 391, Section 393, Section 391, Section 234, the Companies Act, the Companies Act, the Companies Act, the Companies Act

ORG: RANGANATHAN COMPANY PETITION NO.240 OF 201.17-10-2012, Engineering and Construction Company Limited Wardha Power Company Limited Counsel, the Central Government, BCLC, AP, SC, Chancery Divisio”8, BCC 698.13, Gujarat High Court, AIR 195.Ca”25. 1951, AC 39.28, AC, CC 59.35, CC 83.37, CC 1, Guj High Court, AIR 196.Calcutt”46., AIR 197.Calcutt”50, ILR, Company Application Nos.136, CC 75.55, AIR, AIR, AC 40.(HL, A.C. 730, ITR, SC, l919) l C”70, AC 22.71, the Delhi Court, IL&FS Engineering and Construction Limited, the "petitioner&quot, Sections 78, Court, Private Limited Company, a Public Limited Company, Hyderabad, "Satyam Construction Company Limited&quot, Satyam Construction Company, State, National Highways, Auto Bahns, Flyovers, 57,49,500, Preference Shares, The Board of Directors, C.A. No.1649 of, Court, Court, Business Standard, Court, Rs.51,80,37,430/-, Rs.47,28,830/-, Court, Business Standard, Rs.319,59,90,500/-, C.A. No.1651, Court, Court, Court, Business Standard, Court, C.A. No.1652 of, Court, Court, Business Standard, Wardha Power Company Limited, the "respondent-objector&quot, C.P., the High Court, Court, The Company Petition, Business Standard, the Central Government, Ministry of Corporate Affairs, Hyderabad, Court, Learned Senior Counsel, Learned Counsel, the Learned Asst, the Central Government, Learned Counsel, Learned Counsel, Court, I. SCHEME OF ARRANGEMENT INVOLVING REDUCTION OF SHARE CAPITAL: SCOPE, Court, the Board of Directors, Re Ratners Group Plc1, Re Rafter Group plc3, Re Ratners Group plc1, Company, Court, Court, In Re Hindalco Industries Ltd2, Hyderabad Industries Ltd., Hindustan Lever Employees' Union, Lever Ltd., Custina Re, Butfe Press LIC7, Wilson &, Re M B Group, Dorman, Long and Company Limited v. In, South Durham Steel and Iron Company10).11, Court, Hindusthan Commercial Bank Ltd, Hindusthan General Electrical Corporation11, Scottish Insurance Corporation Ltd.8, Court, Re Ratners Group plc1, Re Jupiter House Investments, Re Ransomes, Buckley, Re Ransomes, Re Rafter Group plc3, Indian National Press (Indore) Ltd., Asian Investments Ltd, Maneckchowk and Ahmedabad Manufacturing Co. Ltd., Court, Hindusthan Commercial Bank, Re Cooper,, Johnson Ltd., Indian National Bank Ltd., Bengal Bank Ltd., Court, Court, Court, Hindusthan Commercial Bank, Settlement National Provincial Bank Ltd., Taxes, Scheme, 31.3.2011, the general reserve, account&quot, 31.3.2011, 31.3.2011, 31.3.2010, account&quot, account&quot, 31.3.2011, account&quot, 31.3.2011, account&quot, account&quot, 31.3.2010, 31.3.2011, the "general reserve&quot, the "share, account&quot, account&quot, account&quot, Court, account&quot, account&quot, Section 78(2, Learned Senior Counsel, Section 78(2, Court, Section 78(2, the Articles of Association, Re Ratners Group plc1, British American Trustee, Finance Corporation Ltd, Westburn Sugar Refineries Ltd., Re Rafter Group plc3, Westburn Sugar Refineries Ltd.28, Court, OCL India Limited, Re Rafter Group plc3, Sections 100 to 104 of the Act, Learned Senior Counsel, the Articles of Association, Court, Court, Court, deem "share, the Articles of Association, The Articles of Association of the, Palmer's Company Law, Palmer's Company Law, Rayfield30, Luxor (Eastbourne) Ltd., Cooper32, the Articles of Association, Maneckchowk and Ahmedabad Manufacturing Co., Ltd.20, Novopan India Limited, Sumitra Pharmaceuticals and Chemicals Ltd., Raasi Cement Ltd., V.G. Balasundaram, New Theatres Carnatic Talkies Pvt, Parikh Engineering, Body Building Co. Ltd., capital (read "share, Firestone Tyre, Rubber Co. v., Synthetics and Chemicals Ltd40, Vardhaman Publishers Ltd., Mathrubhumi Printing and Publishing Co., Firestone Tyre &, Rubber Co.40, Titagarh Paper Mills Co. Ltd., an Explanatory Statement, East India Commrl, Court, Court, Court, Dorman, Long and Company Limited10, Re M B Group, Re Jessel Trust, Re M B Group, Re National Bank, Navjivan Mills Co. Ltd., Legislature, United Bank of India Ltd., United India Credit and Development Co., Khandelwal Udyog Ltd., Acme Mfg. Ltd., Tata Oil Mills Co. Ltd., Learned Counsel, Learned Senior Counsel, Hindustan Lever Employees's, Sidhpur Mills Co., Navjivan Mills Co. Ltd., In Re Jessel Trust, Mafatlal Industries, Directors, the Business Standard, the Board of Directors, Court, C.A. No.31, Court, Court, Scheme, Court, Learned Counsel, Sarala Projects Works Pvt Ltd, Rs.11,18,64,757/-, IL&FS Financial Services Ltd, Infrastructure Leasing and Financial Services Limited, Court, C.P., Court, C.P., Court, Court, Court, Maneckchowk and Ahmedabad Manufacturing Co. Ltd., Court, Learned Senior Counsel, Act, Learned Senior Counsel, Girdhardas and Co. Private Ltd58, Hill v. Permanent Trustee Co., Duff, Settlements National Provincial Bank, Court, Income Tax, First National City Bank, Heckett Engineering Co., Quayle Munro Ltd, Henry Head &amp, Co.Ltd v. Ropner Holdings, Section, Section, Settlement National Provincial Bank, Court, Court, Learned Senior Counsel, Court, Court, Court, Court, C.P., Court, Court, Court, Court, Brewery Co. Ltd., Re Rafter Group plc3, Poole v. Natinal Bank of China, Dicido Pier Co., Brewery Co. Ltd., Eastern &, Australian S.S. Co., Ltd &, Court, Court, Court, C.A. No.1652 of 2011, the head "current liabilities&quot, Court, Business Standard, Counsel, Court, Court, C.P., C.A. No.1552 of, C.A. No.1094, O.S.A., the Company Petition, Suffice, City Civil Court, Hyderabad, Court, Court, Court, Court, C.P., Court, C.P., Court, Re Ratners Group, Re Thorn EMI, Re Campaign Holdings, Re Ransomes, Palmer's Company Law, 25th Edition, Learned Senior Counsel, Banks, ILFS, 31.3.2011, NHAI, the Government of Andhra Pradesh, Re Rafter Group plc3, Lucania Temperance Billiad Halls, re75, Re OCL India Ltd16, Court, Court, City Civil Court, Hyderabad, City Civil Court, Hyderabad, Rs.68.81, Rs.8,38,239, Court, account&quot, C.P., Court, C.P., the "special reserve&quot, Court, Court, Court, Rs.68.81, the "special reserve".66, Court, Court, Learned Senior Counsel, Court, Court, Novopan India Limited, Court, the Central Government, Parrys Confectionery Ltd., re76, the Petitioner Company, the Secured Creditors of the Petitioner, the National Stock Exchange, the Bombay Stock Exchange, Court, Court, Sesa Industries Limited, Re Holders Investment Trust Ltd79).74, Court, Court, Court, Court, Court, Court, Court, C.P., the Civil Court, Court, Learned Senior Counsel, C.P., City Civil Court, Hyderabad, Court, Court, the Company Court, Buckley, Court, Ashok Tandon80, Navjivan Mills Co., Ltd.51, Sons P. Ltd., Kalawati81, Bharat Synthetics Ltd., Bank of India82, K.E.C. International Ltd., 31.3.2011, Court, Learned Senior Counsel, 31.3.2011, 31.3.2011, Court, the National stock Exchange, the Bombay Stock Exchange, the Ministry of Corporate Affairs, Government of India, the Serious Fraud Investigation Office, SFIO, SFIO, SFIO, the Company Law Board, Court, C.A. No.1652 of, Court, the Central Government, Government, Sections, the Central Government, Ministry of Corporate Affairs, Hyderabad, Court, Court, Court, Court, Court, Sesa Industries Limited78, Hindustan Lever Employees', Central Inland Water Transport Corporation Limited, Westburn Sugar Refineries Ltd.28, Court, Court, capital.82, Court, Court

PERSON: Sri S. Ravi Counsel, Sri Ch, Asst, Cas 387, Dated:11.09.1970 52, Rs.77,37,00,250/-, Rs.57,49,50,000/-, Andhra Prabha, Andhra Prabha, Andhra Prabha, Chairperson, Andhra Prabha, Chairperson, Chairperson, Chairperson, Andhra Prabha, Sri S. Ravi, Sri Ch, Sri Ch, Pushyam Kiran, Sri Ch, Clyde Coal Co.8, Vol, Durairajan, Ltd19, Gregson25, Bercain Ltd26).15, Crores, Rs.11.05 Crores, Rs.728.379 Crores, Rs.2.91 Crores, Rs.2.91 Crores, Rs.435.33 Crores, Rs.1.21 Crores, Crores, Rs.293.048 Crores, Crores, Crores, Rs.435.33 Crores, Rs.2.91 Crores, Rs.435.33 Crores, Rs.11.05 Crores, Rs.728.38 Crores, Rs.176.91 Crores, Crores, Sri S. Ravi, Sri S. Ravi, capital&quot, Holmes v. Keyes29, Rayfield v. Hands30, Hartley, Baird Ltd.31, Someshchandra v. Jivanlal C. Chinai33, G.V.K. Hotels, AP)36, re39, Ltd.41, V.G. Balasundaram37, Seth Mohanlal Ganpatram, Shri Sayaji Jubilee Cotton, L.C. Kapadia v. L.B. Desai43, Gopal Das Gujarati v., Raymon Engin, Sitaram Jaipuria v. Banwarilal Jaipuria49, Gopal Das Gujarati44, Surajmull Nagarmull v., Shew Bhagwan, Hindustan Lever Ltd.54).33, Sri Ch, Sri S. Ravi, Jitendra R. Sukhadua v., Mihir H. Mafatlal, Sri Ch, Babu, benefits&quot, Sri Ch, Chairperson, Chairperson, Chairperson, Chairperson, Rs.55,00,00,000/-, Sri Ch, Babu, Sri Ch, Babu, Sri Ch, Sri S. Ravi, Sri S. Ravi, Kantilal v. Income-tax Commissioner59).49, Trevor v. Whitworth60, Sechiari, Argenti v. Sechiari61, Drown v Gaumont, Sri S. Ravi, case&quot, Sri Ch, Babu, case&quot, Meux, Re,71, Meux, Chairperson, Chairperson, Andhra Prabha, Rs.70.02 Crores, Rs.70.02 Crores, Sri S. Ravi, Rs.1500.00 Crores, Rs.847.46, Nationalized, Rs.68.81, Rs.68.81, Rs.76.27, Sri S. Ravi, Krishna H. Bajaj78, Sri Ch, Babu, Sri S. Ravi, Vol, Bhagwan Singh, Aradhana Beverages, Karmik Employees84, Sri S. Ravi, Brojo Nath Ganguly86

DATE: 1988, 2009, 1988, 2004, 1995, 30, 1933, 1961, 1989, 67 10, 1934, 1960, 1988, 1985, 1985, 1999, 15 17, 1989, 18, 2009, 1992, 10.12.1969 21, 1972, 1894, 1951, 1959, 1960, 1955, 1941, 1997, 1997, 1999, 1993, 38, 1972, Mad 39, 1975, 1971, 1991, 42, 1964, 43, 1986, 1893, 1985, 1966, 1973, 1970, 1969, 1970, 1977, 54, 1994, 1988, 57, 61, 1950, 41 62, 1930, 63, 1985, 64, 1994, 1992, 2.67) 1937 C”68, 1951, 1907, 1981, 1893, 1989, 76 74, 1994, 66 75, 1965, 76, 2004, 2008, 78, 1971, 28.(Ch.d) 80) 1971, 81) 1986, 94, 82) 1995, 1998, 2004, 1986, 2011, 06.05.1988, the 1st of July, 1993, 2011, 38351, daily, daily, 09.12.2012, 2011, daily, daily, 2011, daily, daily, 2011, daily, daily, 2010, daily, daily, 1956, 1981, the financial years 2008-09, 2009, the financial year 2008-09, the financial year 2009-10, the financial years 2008-, 09 and, 2009-10, the year 2008-09, the year 2010-11, the year ending, the previous years, the year 2010-11, the year 2007-08, the year ending 31.3.2009, 31.3.2009, the financial year ending 31.3.2010, the financial year ending, the previous year, 18, the year ending 31.3.2009, the year ending 31.3.2010, these two years, the year ending 31.3.2008, the year ending 31.03.2011, the year ending 31.3.2011, the year, the year 2007-08, 1956, 2167, 2167, the day, 1956, the year 2010-11, daily, 2012, 10.09.2012, the financial year 2011-12, 30th September, 2012, the years 2008-09, 2009-10, 2010, 2010, 2012, 2010, any financial year, that year, any previous financial year, the years 2008-09, 2009-10, the year 2007-08, the year, the financial year 2010-11, 45, the year ending 31.03.2008, the year, 2010, 2011, 1651, 1652, 2624, 24.10.2011, 53, daily, daily, 07.01.2012, 10.09.2012, 2010, 2010, 2010, 2010, 2010, 2010, 2010, 2010, 4.313).59, 20.9.2012, annual, 10.09.2012, 2011, two weeks, 2011, 2010, 2010, 2010, 10th and 18th September, 2012, 10.09.2012, the financial year 2011-12, 2010, 10.09.2012, 18.09.2012, April, 2011 onwards.65, 70, a particular day, 2012-13, 2010, 2010, 2010, 2010, 1981, the subsequent year, March 10, 2011, 1956, April 25, 2011, May 31, 2011, 1956, 1956, 2010, 2011, 2011, 28.3.2012

CARDINAL: 685, 2, 151, 446, 3, 55, 5, 83, 6, 30, 4, 14, 1, 2, 16, 199.ORISSA, 66, 150, 73, 2, 1, 295.(Ch, 27, 88.29, 10.33, 195.BOM 19.34, 88, 88, 61.36, 98, 32.(Mad, 42, 45, 41, 41, 71, 34, 197.Bom”44, 60, 920, 3, 2, 1, 38, 37, 1977, 47, 47, 81, 64, 206, 50.58, 79.59, 195.BOM 38.60, 12, 1, 57, 1961, 42, 1.(SC, 65.[1979, 120, 41.(Patna, 66, 1, 2, 69, 2, 68, 32.73, 15, 1, 3, 122, 82, 6.(AP, 107.79, 2, 41, 656, 60, 82, 437, 93, 1, 35.85, 3, 3, 15.87, 391, 394, 100, 104, 31.03.2011, 15, 3,50,00,000, 31.03.2011, 7,73,70,025, 27.07.2011, 09.12.2011, 20, 57, 5,18,03,743, five, 09.12.2011, five, 09.12.2011, nine, 3,19,59,905, twelve, 09.12.2011, five, 09.12.2011, 09.12.2011, ten, 20, 9.12.2011, 53, 50, three, 26.12.2011, 1, 180, 101, 102, 85, 85, 100 to 103, 31.3.2008, 29.6.2011, 30.3.2011, 31.3.2008, 100, 104, 390 to 394, three, 23, 10, 25, 100 to 104, 1, 2.1108, 1, 2.1108, 10, less than three, one, two, 6, 1, 2, 3, 100, 390 to 394, 6, 12.11.2011, 18, 10.09.2012, less than three, more than 3/4th, 09.12.2011, No.8, 53, 09.12.2011, 8, 9, No.8, 3/4th, 8.12.2011, 8.12.2011, 8.12.2011, 100, 2, One, one, two, one, two, 101, three, three, 27/11, 23.3.2011, One, ten, two, 70.02, two, two, 2010.64, 1, 100 to 104, 2, 71, 39, 73, 390 to 394, 3/4th, 3/4th, 1, 2, 30.11.2010, 235, 251, 1, 180, 2, 18.10.2011, 17.10.2011, 209A, 211, 217, 292, 295, 297, 372A, 621, 235, 251, 398, 391, 394, 1, 2, 83, 10.9.2012

QUANTITY: 1 Ch”11

PRODUCT: Comp, Comp, CompCa”77, approve&quot, re20, re16, Articles, re53, 104, re20, Rs.1429.51 Crores

WORK_OF_ART: CA, All ER, Redeemable Preference, the Chairmen of the

GPE: etc.3, C.A., Rs.279,63,25,741/-, England, Cambridge, also.27, re38, Jute Mills, Kalol51, C.P., C.A., Counsel, Gujarat, Delhi, C.P., Reduced, C.A., C.P., C.P., London, O.S., O.S., C.P., C.P., reduction.69, re.34, Counsel, Rs.50.00, O.S., O.S., C.P.

NORP: Rs.10/-, English, Rs.10/-, Rs.10/-, Rs.10/-, English, English, English, English, Scottish, Asian, quam, Scottish, Australian, English, Rs.55.00, English, Rules, Rules, Rs.50.00, Rs.16.00

PERCENT: 6%, 2,50,00,000 6%, 99.54%, 0.46%, 79.89%, only 20.11%, more than 75%, around 80%

TIME: 12.00 noon

LOC: South Eastern Region, Act.54, South East Region

ORDINAL: 14th, second, first, first, 14th, first

FAC: Rs.293.48 Crores

LANGUAGE: English

EVENT: 03.04.2009, 03.04.2009