SONGADH INFRASTRUCTURE AND HOUSING LIMITED Vs. STATE

JUDGEMENT

(1.) Upon the application of the applicant Company abovenamed by Summons for Directions dated 25th March, 2010 and upon hearing Shri K.S.Nanavati, Senior Advocate with Mr.Nandish Chudgar for Nanavati Associates, learned Advocates for the Applicant Company and upon reading the affidavit of Shri P.S.Sharma, Director of the Applicant Company filed on 18th March, 2010 and the Annexures therein referred to (Annexure - I) being a copy of the proposed Scheme of Arrangement between JK Paper Limited (Transferor Company) and Songadh Infrastructure & Housing Limited (Transferee Company No.1) and Jaykaypur Infrastructure & Housing Limited (Transferee Company No.2) it is ordered

(2.) That separate meetings be held of the Equity Shareholders of the applicant Company for the purpose of considering, and if thought fit, approving with or without modifications, the Scheme of Arrangement between the Applicant Company and Songadh Infrastructure & Housing Limited (Transferee Company No.1 or 'SIHL') and Jaykaypur Infrastructure & Housing Limited (Transferee Company No.2 or 'JIHL').

(3.) And that a meeting of Equity Shareholders of the applicant Company be convened and held at Registered Office of the Company at P.O. Central Pulp Mills - 390660, Fort Songadh, District Tapi (Gujarat) on 08th May, 2010 at 2.30 p.m. for the purpose of considering, and if thought fit, approving with or without modification, the arrangement embodied in the scheme of arrangement of the applicant company with Songadh Infrastructure & Housing Limited and Jaykaypur Infrastructure & Housing Limited.