ilandfs Engineering and Construction Company Limited 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 premium&#8221, 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, Palmer’s Company Law, Section 102(2)(a)and(b, Section 102(2)(b, Section 78, Section 102(2)(a)and(b, section 102, Section 102(2, the Companies Act, Section 391(1, 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: ILandFS Engineering and Construction Limited, Sections 78, Court, Private Limited Company, a Public Limited Company, Hyderabad, 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 2011, Court, Court, Business Standard, Wardha Power Company Limited, 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 OF ENQUIRY, Court, the Board of Directors, Re Ratners Group Plc, BCLC, Re Hindalco Industries Ltd, Re Rafter Group plc, Re Ratners Group plc, supra);In Re Hindalco Industries Ltd, Company, Court, Court, In Re Hindalco Industries Ltd, Industries Ltd., AP, Hindustan Lever Employees' Union, Lever Ltd., SC);Custina Re Haare, AER Gh, Chancery Division, Clyde Coal Co., the class &#8230, Re M B Group plc, Dorman, Long and Company Limited v. In, South Durham Steel and Iron Company, Court, HindusthanCommercial Bank Ltd, Hindusthan General Electrical Corporation, Scottish Insurance Corporation Ltd., Court, Re Ratners Group plc, Re Hindalco Industries Ltd, Re Thorn EMI plc, BCC 698, Re Jupiter House Investments, CA, Buckley, Re Ransomes plc, Re OCL India Ltd, Re Rafter Group plc, supra);In Re Hindalco Industries Ltd, Indian National Press (Indore) Ltd., In Re G.V. Films Ltd., CC 517(MAD).Rule 85, Maneckchowkand Ahmedabad Manufacturing Co. Ltd., G.V. Films Ltd., Court, Durairajanv, Waterfall Estates Ltd, Asian Investments Ltd, HindusthanCommercial Bank Ltd, Re Cooper,, Johnson Ltd., Indian National Bank Ltd., Bank Ltd., Suresh Chakraverty, AIR 1952 Cal 133, Court, Court, Court, HindusthanCommercial Bank Ltd, Settlement National Provincial Bank Ltd., Gregson, Taxes, Bercain Ltd, Scheme, 31.3.2011, the general reserve, 31.3.2011, 31.3.2011, 31.3.2010, 31.3.2011, 31.3.2011, 31.3.2010, 31.3.2011, Court, Section 78(2, Court, Learned Senior Counsel, Section 78(2, Court, Section 78(2, the Articles of Association, Court, Re Ratners Group plc, Re OCL India Ltd, British American Trustee, Finance Corporation Ltd v., AC 399, Westburn Sugar Refineries Ltd., Re Rafter Group plc, supra);In Re Hindalco Industries Ltd, In Re Grosvenor Press plc, WestburnSugar Refineries Ltd., Court, OCL India Limited, Rafter Group, Hindalco Industries Ltd, Sections 100 to 104 of the Act, Learned Senior Counsel, the Articles of Association, Court, Court, Court, the Articles of Association, The Articles of Association of the, Luxor (Eastbourne) Ltd., AC 108, the Articles of Association, Maneckchowkand Ahmedabad Manufacturing Co. Ltd., NovopanIndia Limited, G.V.K. Hotels Ltd, CC 596);Sumitra Pharmaceuticals and Chemicals Ltd., CC 619, RaasiCement Ltd., AP, V.G. Balasundaram, New Theatres Carnatic Talkies Pvt. Ltd, Parikh Engineering, Body Building Co. Ltd., capital (read &, Firestone Tyre, Rubber Co. v., Synthetics and Chemicals Ltd, VardhamanPublishers Ltd., Mathrubhumi Printing and Publishing Co. Ltd., CC 1, V.G. Balasundaram, Jute Mills Ltd., Guj High Court, Firestone Tyre, Rubber Co., GopalDas Gujarati v. Titagarh Paper Mills Co. Ltd., an Explanatory Statement, East India Commrl, AIR 1966 Calcutta 232, Court, Court, Court, Dorman, Long and Company Limited, Australian Chartered Bank, Re M B Group plc, Re Jessel Trust Ltd., Re M B Group plc, In Re National Bank Ltd (, SitaramJaipuria, GopalDas Gujarati, ILR, Navjivan Mills Co. Ltd., Kalol (Judgment in Company Petition No.12, Company Application Nos.136, Legislature, United Bank of India Ltd., United India Credit and Development Co. Ltd., KhandelwalUdyog Ltd., Acme Mfg. Ltd., CC 503 (Bom, Tata Oil Mills Co. Ltd., Hindustan Lever Ltd., Learned Counsel, Learned Senior Counsel, Hindustan Lever Employees’s Union, Sidhpur Mills Co. Ltd, Navjivan Mills Co. Ltd., InRe Jessel Trust Ltd, Mafatlal v. Mafatlal Industries Ltd, Directors, the Business Standard, the Board of Directors, Court, C.A. No.31, Court, Court, Scheme, Court, interest?.We, Learned Counsel, Sarala Projects Works Pvt Ltd, Rs.11,18,64,757/-, ILandFS Financial Services Ltd, Infrastructure Leasing and Financial Services Limited, Court, C.P., Court, C.P., Court, Court, Court, DIVIDENT &#, Maneckchowkand Ahmedabad Manufacturing Co. Ltd., G.V. Films Ltd., Court, Learned Senior Counsel, Act, Learned Senior Counsel, Girdhardas and Co. Private Ltd, AIR 1967 SC 795, AIR 1956 BOM, AC 409, Hill v. Permanent Trustee Co., A.C. 730, Duff’s Settlements National Provincial Bank Ltd., Court, Income Tax, Oil Seeds Exchange Ltd, National City Bank, CIT, SC);Heckett Engineering Co., CIT, Quayle Munro Ltd, SC, Co.Ltd v. Ropner Holdings, Ltd, Section, Section, Settlement National Provincial Bank Ltd., Court, Court, Learned Senior Counsel, Court, directs&#8221, Court, Court, Court, C.P., Court, Court, Court, G.V. Films Ltd., Court, Brewery Co. Ltd., Re Rafter Group plc, supra);In Re Hindalco Industries Ltd, Poole v. Natinal Bank of China Ltd, DicidoPier Co., Re, Brewery Co. Ltd., Australian S.S. Co., Ltd and Reduced, Re, Court, Court, Court, Court, C.A. No.1652 of 2011, the head &#, 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 Pty, Re Heron International NV, Re Ransomes plc, 25th Edition, Learned Senior Counsel, Banks, ILFS, 31.3.2011, NHAI, the Government of Andhra Pradesh, Re Rafter Group, Hindalco Industries Ltd, Court, Court, City Civil Court, Hyderabad, City Civil Court, Hyderabad, Rs.68.81, Rs.8,38,239, Court, C.P., Court, C.P., Court, Court, Court, Rs.68.81, In Re Grosvenor Press Plc, Court, the words &#, Court, Learned Senior Counsel, Court, Court, Court, NovopanIndia Limited, Court, the Central Government, ParrysConfectionery Ltd., the Petitioner Company, the Secured Creditors of the Petitioner, the words &#, the National Stock Exchange, the Bombay Stock Exchange, Court, Line Media Solutions Ltd., AP, Court, AIR 2011 SC 1070, Re Holders Investment Trust Ltd, Court, Court, Court, Court, Court, Court, Court, C.P., the Civil Court, Court, Court, Learned Senior Counsel, C.P., City Civil Court, Hyderabad, Court, Court, the Company Court, Buckley on theCompanies Acts, Court, Maneckchowk, Navjivan Mills Co., Ltd., BhagwanSingh, Sons P. Ltd., Kalawati, Bharat Synthetics Ltd., Bank of India, 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, Hindustan Lever Employees' Union, Central Inland Water Transport Corporation Limited, Nath Ganguly, WestburnSugar Refineries Ltd., Re Grosvenor Press plc, Court, Court, Court, Court

MONEY: 8220;petitioner&#8221, 8216;discretion&#8217, 8216;every, 8216;fair, 8216;fair, 8216;not, 8211, 8220;Discernible&#8221, 8220;Gross, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;securities, 8220;in, 8220;in, 8220;commercial&#8221, 8220;business&#8221, 8220;dividend&#8221, 8220;dividends, 8211, 8220;freeing&#8221, 8220;dividend&#8221, 8220;Capital&#8221, 8220;dividend&#8221, 8217;bonus&#8217, 8220;in, 8220;in, 8220;in, 8220;current, 8220;…, 8220;public

CARDINAL: 391, 394, 100, 104, 2., 3., 31.03.2011, 15, 3,50,00,000, 31.03.2011, 7,73,70,025, 4., 27.07.2011, 09.12.2011, 20, 57, 5,18,03,743, five, 5., 09.12.2011, five, 09.12.2011, nine, 3,19,59,905, 6, twelve, 09.12.2011, five, 09.12.2011, 09.12.2011, ten, 20, 9.12.2011, 53, 50, three, 8, 26.12.2011, 9, 10, 685, 151, 446, 685, 55, 83, 270, 672, 1, 635, 11, 30, 4, 222, 1, 980, 2, 12, 1, 180, 153, 66, 13, 101, 102, 85, 150, 73, 10.12.1969);In, 2, 199);In, 53, 210)andBengal, 100 to 103, 14, 1, 295, 15, 31.3.2008, 16, 29.6.2011, 17, 30.3.2011, 31.3.2008, 19, 20, 100, 104, 390 to 394, 21, 22, three, 23, 24, 10, 25, 100 to 104, 26, 1, 2.1108, 199, 1, 1, 2.1108, 143, 190, 10, 27, less than three, 28, 88, 88, 98, 835, 42, 45, 157, 29, 41, 71, 30.&nbsp, 34, 276, one, 60, 920, 3, 31, 119, 2, 193, 105, 32, 38, 37, two, 47, 689, 47, 81, 754, 33, 6, 34, 305, 64, 206, 35, 1, 2, 3, 36, 100, 390 to 394, 6, 12.11.2011, 18, 38, 39, 10.09.2012, 40, less than three, more than 3/4th, 41, 09.12.2011, No.8, 53, 09.12.2011, 8, 9, 42., No.8, 3/4th, 8.12.2011, 43, 8.12.2011, 8.12.2011, 44.&nbsp, 46, 100, 2, 47, 48, 381, 49, One, 12, 1, 417, one, two, one, two, 57, 1961, 42, 120, 1, 24, 2, 50, 51, 101, 229, 2, 68, three, three, 27/11, 23.3.2011, One, 15, 762, 1, 667, 4.313, 59, ten, 60, 3, 61, 62, two, 63, 70.02, two, two, 64, 65., 66, 67, 68, 1, 100 to 104, 69, 2, 122, 82, 72, 390 TO 394, 73, 390 to 394, 2, 289, 74, 3/4th, 3/4th, 1, 2, 75, 30.11.2010, 235, 251, 1, 180, 2, 41, 656, 60, 82, 437, 93, 1, 351, 3, 78, 18.10.2011, 17.10.2011, 209A, 211, 217, 292, 295, 297, 372A, 621, 235, 251, 398, 79, 391, 394, 3, 156, 81, 82, 1, 2, 83, 10.9.2012

DATE: 06.05.1988, the 1st of July, 1993, 2011, 38351, daily, daily, 09.12.2012, 2011, daily, daily, 2011, daily, daily, daily, daily, 2010, daily, daily, 1956, 1988, 2009, 1988, 2004, 1995, 30, 1933, 1961, 1948, 1989, 1934, 1960, 1988, 1985, 1985, 1999, 1981, 1998, 1989, 2009, 1992, 1972, 1902, 1951, the financial years 2008-09, 2009, the financial year 2008-09, the financial year 2009-10, the financial years 2008-09, 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, 1894, 1951, 2167, 1959, 1960, 2167, 1955, 1941, 1997, 1997, 1999, 1993, 1972, 1975, the day, 1971, 1991, 1964, 1972, 1986, 1893, 1985, 1956, 1972, 1973, 1970, 1969, 1970, 1977, 1977, 1994, 1962, 1988, the year 2010-11, 37, 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 2007-08, the financial year 2010-11, 45, the year ending 31.03.2008, the year, 1950, 1930, 1985, 1979, 1994, 1992, 1951, 2010, 2011, 54, 1907, 1981, 1893, 55, 1651, 1652, 2624, 24.10.2011, 53, daily, daily, 07.01.2012, 10.09.2012, 56, 2010, 2010, 2010, 2010, 2010, 2010, 2010, 2010, 58, 1989, 1994, 1965, 20.9.2012, annual, 10.09.2012, 2011, two weeks, 2011, 2010, 2010, 2010, 10th and 18th September, 2012, 2010, 10.09.2012, the financial year 2011-12, 2010, 10.09.2012, 18.09.2012, April, 2011, 70, 2004, 71, a particular day, 2008, 2012-13, 1971, 2010, 2010, 76, 2010, 2010, 1981, 1971, 1986, 94, 1995, 1998, 2000, 2004, the subsequent year, March 10, 2011, 1956, April 25, 2011, May 31, 2011, 1956, 1956, 2010, 2011, 2011, 28.3.2012, 80, 1986

NORP: Rs.10/-, Rs.250, English, Rs.10/-, Rs.10/-, Rs.10/-, English, English, English, English, Scottish, quam, Scottish, English, Rs.55.00, English, Rules, Rs.50.00, Rs.16.00

PERSON: 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, Wilson, Ransomes Plc, Vol, Cas 387, 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, Holmes v. Keyes, Rayfieldv, Hartley Baird Ltd., Cooper, Someshchandrav, Jivanlal C. Chinai, Seth Mohanlal Ganpatram, Shri Sayaji Jubilee Cotton, L.C. Kapadia v. L.B. Desai, Raymon Engin, Banwarilal Jaipuria, Shew Bhagwan, Dated:11.09.1970, Sri Ch, Sri S. Ravi, Sukhadua v. Alembic, Sri Ch, Babu, Sri Ch, Chairperson, Chairperson, Chairperson, Rs.55,00,00,000/-, Sri Ch, Babu, Sri Ch, Babu, Sri Ch, Sri S. Ravi, Sri S. Ravi, Kantilalv, Sechiari, Argenti v. Sechiari, Hill, Drown v Gaumont, Henry Head, Sri S. Ravi, Sri Ch, Babu, LT 321, 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, CompCas, Krishna H. Bajaj, Sri Ch, Babu, Sri S. Ravi, Vol, Ashok Tandon, Aradhana Beverages, Karmik Employees, Sri S. Ravi

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

WORK_OF_ART: Redeemable Preference, the Chairmen of the

GPE: C.A., Rs.279,63,25,741/-, England, C.P., C.A., Counsel, Gujarat, Delhi, C.P., l919, C.A., C.P., C.P., London, O.S., O.S., C.P., C.P., Counsel, Rs.50.00, O.S., O.S., C.P.

TIME: 12.00 noon

LOC: South Eastern Region, South East Region

EVENT: S.C. 360, 03.04.2009, Ch 402).ThisSection, 03.04.2009

PRODUCT: Comp, Comp, Articles, 324, 1 Cal 207, 104, 592, Rs.1429.51 Crores, ALD 879

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

FAC: Rs.293.48 Crores

LANGUAGE: English