DISHA RETAIL FIXTURS LIMITED Vs. STATE

JUDGEMENT

(1.) THIS application is filed by the transferee-Company under Section 391 and 394 of the Companies Act seeking dispensation of the meeting of the equity shareholders, secured and unsecured creditors of the above Company.

(2.) THE transferor-Company was incorporated on 27.5.1996 under the Companies Act under the name and style of 'Disha Precisions Private Limited' having its authorised share capital of 10,000 equity shares of Rs.100/- each and 9,000 equity shares of Rs.100/- each. The object of the Company are set out in the Memorandum of Association.

(3.) THERE are six shareholders of the applicant-Company and their consent is produced vide annexure-J to J5. The applicant-Company has one secured creditor and 30 unsecured creditors and they have given their no objection and consent letters and are produced vide annexure-K to K30. Under these circumstances, I deem it just and necessary that the application requires to be allowed.