In Re: Reliance Communications Limited, a Company Incorporated Under the Companies Act, 1956 Vs. WebduniA.Com (India) Pvt. Ltd., a Company Registered Under the Companies Act, 1956

Decided On : Jul-18-2009

Court : Mumbai

LAW: the Optic Fiber Undertaking of the Demerged Company, Section 394, the Companies Act, the Indian Companies Act, Section 393, the Companies Act, Section 187, the Companies Act, Section 393, the Companies Act, Section 391, the Companies Act, the Valuation Report, the Companies Act, Section 391, the Companies Act, Item 8,9,10 &amp, the Companies Act, Section 211 of the Act, Section 211 of the Act, the Companies Act, Section 211 of the Act, the Taxation Law, the Appointed Date, the Appointed Date, the Appointed Date, the Appointed Date, Section 642, Section 21A, Section 211, the Companies Act, Section 3, Section 43A, Section 43A, Section 43A, Section 43A, Section 43A, Section 43A, Section 43A, Section 43A

PERSON: A.M. Khanwilkar, M.H. Kania, M.H. Kania, Shri S. Anantharaman, justice.(e, Marine Drive, RITL.6, Ramjibhai Mavani, Mavani, Mavani, justice.(d, justice.(e, S. Anantharaman, Applicant, Miheer H. Mafatlal, Applicant, Ramjibhai Mavani, Applicant, Mavani, S. Ananthraman, S. Ananthraman, Applicant, Shri S. Ananthraman, S. Ananthraman, No.:RBSA, 6,201.86 Crores, 1,004.49 Crores, Valuer, Undertaking, me.32, Woodward, Chatterjee, Chatterjee, Balli Klockner GmbH, Chatterjee, Chatterjee, Woodward, Paragraphs, S.Ananthraman, Objector, Petitioners

NORP: J.1, following:1.1.6.1, Petitioners, Accounting, Accounting, Lakhs, Lakhs

ORG: Petitioners, this Hon'ble Court, the Scheme of Arrangement, Reliance Communications Ltd., the 'Demerged Company', Reliance Infratel Ltd., the Resulting Company, Scheme, The Demerged Company, Reliance Infrastructure Developers Private Limited, the Demerged Company, Reliance Communications Limited', Resulting Company, The Resulting Company, the Demerged Company, the Demerged Company, the Resulting Company, the Resulting Company, the Demerged Company, the Demerged Company, the Demerged Company, the Resulting Company, the Resulting Company, the Resulting Company, The Demerged Company, the Resulting Company, The Board of Directors, Resulting Company, the Scheme of Arrangement, the Demerged Company, the Resulting Company, the Board of Directors, Demerged Company, the Infrastructure of the Resulting Company, Scheme, Optic Fiber Undertaking, the Demerged Company, Resulting Company, the Demerged Company, M/s. R.B. Shah and Associates, M/s. Chaturvedi, Shah, Chartered, the Board of Directors, Companies, Company Applications, the Scheme of Arrangement, the Demerged Company, Scheme of Arrangement, Scheme, Court, Scheme of Arrangement, the Applicant Company post Scheme, Scheme, Court, Free Press Journal, Maharashtra Times, Scheme, Court, Companies, the Demerged Company, Scheme, Scheme, Report, Scheme, Scheme, Scheme, the Resulting Company, Court, Scheme, Chair, Scheme of Arrangement, Scheme, Scheme, Scheme, the Scheme of Arrangement, the Demerged Company, the Resulting Company, Court, the Demerged Company, Bombay Stock Exchange Limited, National Stock Exchange Ltd., Companies, Scheme, the Companies under Sections, Scheme, 5th June 2009.9, Court, Court, Scheme, Paragraph 7 of the Affidavit, Scheme, Scheme, RITL, RITL, Optic Fiber Undertaking, Optic Fiber Undertaking, Hon'ble High Court, the Institute of Chartered Accountants, Court, the Free Press Journal, Maharashtra Times, Court, Coimbatore, Company Petitions, Company Applications in Company Petition No, Reliance Communications Ltd., The Petitioner Company and Company Petition No, Reliance Infratel Ltd., The Resulting Company, Reliance Infratel Limited, the Petitioner Company, the Petitioner Company, the National Advisory Committee on Accounting Standards (NACAS, Clauses 2.3, Companies (Accounting Standards) Rules, this Hon'ble Court, the Demerged Company, Court, the Scheme of Arrangement, Scheme, Registrar of Companies and Regional, Marine DriveMumbai-400002.The Regional, Ministry of Corporate AffairsEverest Building,100, Reliance Communications Limited, Reliance Infratel Limited, RITL).I, Company, the Hon'ble Court of Judicature, the Optic Fiber Undertaking, Reliance Communications Infrastructure Limited, Company, Reliance Communications Infrastructure Limited, RITL, Company, Company, Company, Company, the Optic Fiber Undertaking, the Optic Fiber Undertaking, Company, the Detailed Valuation Report, Company, RITL, Company, RITL, the Optic Fiber Undertaking, RITL, Company, the Scheme of Arrangement, the Companies (Accounting Standards) Rules, Company, the Scheme of Arrangement, Company, Company, the Hon'ble Court, Applicant, Rajkot Saher/, the Company Petition, Applicant, the Scheme of Arrangement, Application, the Scheme of Arrangement, the Scheme of Arrangement, Sections 391 - 394, Court, Company Application Nos, Company Petition No, the Petitioner Company, Creditors, Hon'ble Court, Public Sector Banks and Financial Institutions, Hon'ble Court, Applicant, the Creditor of the Demerged Company, Company, Applicant, Applicant, Court, Applicant, the Demerged Company, Applications, Company Application, Rajkot Saher/, Company Applications in Company Petition No, Scheme, Clauses 2.3, the Income Tax Department, the Secretary Ministry of Finance, Hon'ble High Court, Company Law Petition No, or(d, the Petitioner Company, Public Section Banks, Banks and Financial Institutions;(d-I, this Hon'ble Court, Applicant, the Demerged Company, the Resulting Company, Creditors, Company, Applicant, Rajkot Saher/, Applicant, the Scheme of Arrangement, Scheme, the Apex Court, Mafatlal Industries Ltd., AIR 1997, Court, Scheme, Court, Scheme, Applicant, Court, Scheme, Rajkot Saher/, Coimbatore, Coimbatore, Court, Court, Rajkot Saher/, Applicant, Court, the Demerged Company, Court, Company, M/s. R.B. Shah and Associates, M/s. Chaturvedi Shah Pvt, Applicant, Applicant, Scheme, the Demerged Company, the Resulting Company, the Demerged Company, Court, Applications, Rajkot Saher/, Applicant, Company, Hindalco Industries Limited, Company Petition No, Applications, Applications, Objectors, the Demerged Company, the Resulting Company, M/s. Reliance Company Infrastructure Company Limited, Schemes, Schemes, Reliance Communication Infrastructure Limited, the Demerged Company, the Resulting Company, Demerged Company, Structure-Unlit Optic Fibers, Reliance Communication Infrastructure Limited, Scheme, the Demerged Company, the Resulting Company, the Optic Fiber, the Demerged Company, the Resulting Company, Objectors, Scheme, the Optic Fiber Limited, Company, the Resulting Company, Optic Fiber Undertaking, the Books of Accounts, the Demerged Company, Company, Petitioners, Ajmera Realty & Infra India Ltd., the Optic Fiber Undertaking, the Optic Fiber Undertaking, the Demerged Company, the Resulting Company, Scheme, Objectors, Applicant, Company, Applicant, Court, Company, Reliance Communications Ltd., Valuation Consultants, Reliance Anil Dhirubhai Ambai Group, Reliance Communications Limited, Reliance Communications Ltd., the Optical Fiber Network, Valuation, Reliance Infratel Ltd., RITL, Reliance Anil Dhirubhai Ambani Group, the High Court, the Optical Fiber Network, RITL, the Market Value of the Fixed Assets, the Optical Fiber Network, the Depreciated Replacement Cost of the Network, the Market Value, the Detailed Valuation Report, Particulars Gross Block Net Block Gross, DepreciatedNo, WIN Project, CWIP, Network, Grand Total of Market Value 62018674293, Capital Goods Inventory, CWIP, Reliance Communications Limited, RCL, Capital Work, Progress-CWIP, this Valuation Certificate, The Basis of Valuation, Limitations, Methodologies, Conclusions, the Demerged Company, the Resulting Company, Applicant, the Board of Directors, Scheme, Applicant, Scheme, Scheme, Applicant, Objectors, Objectors, Scheme, Company, the Resulting Company, Scheme, Scheme, Optic Fiber Undertaking, Optic Fiber Undertaking', Optic Fiber, IP, the Optic Fiber Undertaking, the Board of the Demerged Company;1.1.6.3, the Optic Fiber Undertaking;1.1.6.4, the Demerged Company, the Optic Fiber Undertaking, the Board of the Demerged Company;1.1.6.5, Semi-Government, the Demerged Company, the Optic Fiber Undertaking;1.1.6.6, the Optic Fiber Undertaking, the Remaining Business of the Demerged Company, the Optic Fiber Undertaking, the Board of the Demerged Company, the Optic Fiber Undertaking, the Board of the Demerged Company, Resulting Company, Scheme, the High Court, the Scheme of Arrangement, Maharashtra, Optic Fiber Undertaking, the Demerged Company, Resulting Company, Optic Fiber Undertaking, the Resulting Company, the Demerged Company, Optic Fiber Undertaking, the Demerged Company, the Demerged Company, the Resulting Company, the Optic Fiber Undertaking, the Demerged Company, Scheme, the Board of Directors, the Board of Directors, Objectors, Objectors, Reliance Communication, the Resulting Company, the Demerged Company, The Demerged Company, the Demerged Company, the Resulting Company, Scheme, Optic Fiber Undertaking, Resulting Company, the Board of the Demerged Company, Company, Resulting Company, the Optic Fiber Undertaking, Company, the Resulting Company, Counsel, Companies, Scheme, Court, Benchmark Primary Lending Rate, the Reserve Bank of India, the Benchmark Primary Lending Rate Structure, the Reserve Bank of India, thus:(a, the Mid-Term Review, the Indian Banks' Association, IBA, Working Group, The Working Group, Press Statement, the Reserve Bank of India, Court, the Benchmark Primary Lending Rate, Weighted, the Demerged Company, the Average Lending Interest Rate, Company, the Benchmark Primary Lending Rate, Scheme, Scheme, Optic Fiber Undertaking, the Resulting Company, Benchmark Primary Lending Rate, Weighted, the Demerged Company, the Board of the Demerged Company, Scheme, Scheme, Creditors, Hindalco Industries Limited, Scheme, Scheme, Scheme, the Board of Directors, Scheme, Court, the Demerged Company, the Demerged Company, the Resulting Company, the Demerged Company, Scheme, the Optic Fiber Undertaking, the Board of the Demerged Company, the General Reserve Account, the Demerged Company, The General Reserve Account, the Demerged Company, General Reserve, Scheme, Scheme, Hindalco Industries Limited, Scheme, Company, Objectors, the Apex Court, Income Tax, the Apex Court, Authorities, Company, Authorities, Scheme, Jindal Iron & Steel Co. Ltd., Income-Tax Department, Court, the Supreme Court, ITR 809, Marshall & Sons, the Appointed Date, the Income-Tax Department, Creditor, Jindal Vijayanagar Steel Limited, the Appointed Date, the Income-Tax Department, Scheme, the Board of Directors, Various Courts, Scheme, Company, Income-tax Department, The Income Tax Department, Scheme, Petitioners, Income Tax, Authority, the Board of Directors, Objectors, Scheme, Authorities, the Ministry of Corporate Affairs, the Central Government, the National Advisory Committee on Accounting Standards, the Companies (Accounting Standards) Rules, the Companies (Accounting Standards) Amendment Rules, the Companies (Accounting Standards) Rules, Annexure, 'Accounting Standard, the general reserve, G.S.R., the Apex Court, Income Tax, India P. Ltd., Court, CBDT, Scheme, the Resulting Company, the Demerged Company, Petitioners, Optic Fiber Undertaking, Scheme, the Institute of Chartered Accountants, the Resulting Company, the Board of Directors, Petitioners, Petitioners, Petitioners, Webduniya.com, the Demerged Company, Company, Scheme, Creditors, Creditor, Scheme, the Demerged Company, the Resulting Company, Petitioners, Applicant, Court, the Postal Authority, Applicant, Court, Court, Applicant, Creditors, the Demerged Company, Applicant, Applicant/Creditor, Petitions, Scheme, Clauses, Scheme, Petitioners, High Court

CARDINAL: 1956.2, 300,00,00,000, 5/-, 2,06,40,26,881, 5/-, 1032.01, 300, 5/-, 5/-, 399.02, 439/2009, 19, 20, one, two, 144,40,36,096, 143,98,25,310, 5/-, 10, Only 15, 5/-, 10,190/-, 20, 70,93,69,361, 5/-, five, two, 6718.87, 2.4.3, 11, six, Two, 759/2009, one, 487, 488, 394, 2.4, 55, 250, 1,930, 7,206, 2.3.3, 2006.7, one, two, 487, 488, 438, 439, 27000, 31000, two, 760/2009, 487, 488, 394, 2.4, hundreds, 487, 488, 32, 39, two, two, One, only 15, 10,190/-, two, 293, 9).20, two, 2,755, 1,852, 7,206, 5, 20091.1, 2008.1.3, one, 31-3-2006, No.3-4, No.3-4, 5306277144, 11, 1.3, 2.1, 2.2, two, 80, 87, 5(2, 123, 229, transferee, 63, 1.4.2003, 375, two, 1, 1, 3C, 1, 2009.(2, 15, 212(E, 2008.40, One, 1.4.1967, 5, One, 10, 10, 6718.87, 2.4.3

DATE: 1956, 15th July 2004, June 7, 2006, 16th April 2001, March 31, 2008, March 31, 2008, March 31, 2009, January 19, 2009, January 31, 2009, 23rd April 2009, 2218, 2038, Friday, June 5, 2009, 15th July 2009, 1956, 17th July 2009, 14th July 2009, 11th July 2009, 2006, 9th July 2009, thus:9th July 2009The, May 2009, the year 2005-06, the year 2006-07, the year 2007-08, the year 2008-09, 7th July 2009.4, para 2.3.4, 11th July 2009, Para 4, 1956, 11th July 2009, 14th July 2009, 2009, 2009, 23rd April 2009, 31st December 2008, 13th July 2009, 2009, 17th July 2009, 34, the day, 11th July 2009, the same day, 11th July 2009, 15th July 2009, the same day i.e. 15th July 2009, one day, 2038, June 22m 2009, 2009, 31st December 2007, 1st April 2008, 21st March 2009, 2009, March 31, 2008, December 31, 2008, 7th July 2009, 15th March, 1st April, 1st April, from 1st April, 2008.1.4, 3 to 4 years, 01-04-2008, 36022483086, 56382090446 46559903405, 851115135, 777806197 1910666629 1740855692, 2006-07, 4, 2427703785 2385365983, 4954498307, 4835771942, 2007-08, 1437973985 1419893142 2934640786, 2882143255, 2007-08(BAN)---------------------------------------------------------------------------------------------5, 780000000 768218441, 31-12-2007 Sr, 1826357677, 1802738862, 47719307356 43176505711 66181896168, 5306277144, 1022707044 1022707044 1022707044 1022707044--------------------------------------------------------------------------------------------10, 2770054847 2770054847, 2770054847 2770054847 CWIP--------------------------------------------------------------------------------------------11 Pre-Operative Expenses, 945842752 945842752, 945842752 945842752--------------------------------------------------------------------------------------------, 57764189144 53221387499 76226777956, 72063556081, 1st April 2008.1.6, April 1, 2008, Clause 2.2.2, Annual, 2009-10, October 2005, end - August 2009.30, April 22, 2009, a particular day, Clause 2.2.2, 2009, April 8, 2009, 2004, September 2, 2004, April 1, 2003, 2004, November, 2003, the 1st day, the financial year, 19th June 2009, 2009, any year, the year ending March 31, 2011, 31st March 2009, the 31st March, 2009G.S.R. 225(E, 1956, 1 of 1956, 2006, 2006, 45, 2006, before 31st March, 2011, 31st March, 2011, 12 months, 7th December, 2006, 739(E, the 7th December, 2006, 27th March, 33, 1967, 9.10.1967, any year, the year ending March 31, 2011, four years old, four weeks, today

GPE: Mumbai, Mumbai, India, India, India, Bombay, Mumbai, Bombay, India, 758/2009, Mumbai, Network(45%, Mumbai, Undertaking, Counsel, Delhi, affairsNotificationNew Delhi, Delhi, assets.33, India, Counsel, India, Scheme, Mumbai

PERCENT: 100%, 95%, 5%, 99.32%, 99.9999%, 0.6784%, 0.0001%, 0.6784%, 0.0001%, Network(49%, Network(49%, Network(49%, less than, less than, less than 1%, less than, less than 1%

WORK_OF_ART: their Memorandum of Association, Scheme of Arrangement, Regulation or Guidelines, Scheme, Scheme, Scheme, Scheme, Scheme, Scheme, Scheme, Scheme, Optical Fiber Network of the Demerged Company, The Valuation Summary of the 'Market Value' of Specified Fixed Assets - Optical Fiber Network of Reliance Communications Ltd., Detailed Valuation Report, a Scheme of Arrangement, the Scheme of Reliance Communications Infrastructure Ltd., 'The Effects of Changes in Foreign Exchange Rates', Scheme

FAC: Resolution, Resolution, the Optic Fiber, Resolution, Resolution, Tamil Nadu, Resolution, Resolution, the Gazette of India

LOC: Paragraph 18, Shareholder, Western Region

LANGUAGE: English, English

ORDINAL: 26th, first, first, first, first, 7th, first, first, second

PRODUCT: Creditor, Judgment, Valuers, standard-11, Creditor, Creditor, Creditors, Judgment

EVENT: Clause 2.3.4