GOLDEN PEAKOCK OVERSEAS LIMITED Vs. STATE

JUDGEMENT

(1.) THIS joint application has been filed under Sections 391 to 394 of the Companies Act, 1956 read with Rules 6 & 9 of the Companies (Court) Rules, 1959 by the applicant companies seeking directions of this court to dispense with the requirement of convening the meetings of their equity shareholders, secured and unsecured creditors to consider and approve, with or without modification, the proposed Scheme of Demerger between Golden Peakock Overseas Limited (hereinafter referred to as the demerged company no. 1); Indo -Dan Lampshades Private Limited (hereinafter referred to as the demerged company no. 2) and GPL Exports Limited (hereinafter referred to as the resulting company). In the alternative, the applicants have prayed that if this court does not grant exemption for holding any meeting as prayed for above, the meeting may be directed to held at the registered office of the applicant companies.

(2.) THE registered offices of the demerged and resulting companies are situated at New Delhi, within the jurisdiction of this Court.

(3.) THE demerged company no. 1 was originally incorporated under the Companies Act, 1956 on 28th February, 1989 with the Registrar of Companies, NCT of Delhi and Haryana at New Delhi under the name and style of Golden Peakock Overseas Private Limited. The company changed its name to Golden Peakock Overseas Limited and obtained the fresh certificate of incorporation on 22nd July, 1996.