GUJARAT NIPPON ENTERPRISES PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) The present petition is filed under the provisions of Sections 391 to 394 of the Companies Act, 1956 seeking sanction of the Scheme of Amalgamation of Logic Plastics Private Limited with Gujarat Nippon Enterprises Private Limited.

(2.) Gujarat Nippon Enterprises Private Limited, The Transferee Company, filed Company Application No.137 of 2016 seeking dispensation of the meeting of the Equity Shareholders of the petitioner. The Petitioner further submitted that this being the Transferee Company, the meeting of the Creditors is not required to be held. By an order dated 21.4.2016 passed in Company Application No. 137 of 2016, this Court ordered dispensation of the meeting of the equity shareholders and further ordered that this being the Transferee Company, the meeting of the Creditors is not required to be held.

(3.) Logic Plastics Private Limited, The Transferor Company, filed Company Application No.138 of 2016 seeking dispensation of the meetings of the 'Equity Shareholders and Unsecured Creditors. By an order dated 21.4.2016 passed in Company Application No. 138 of 2016, this Court ordered dispensation of the meetings of the Equity Shareholders of the petitioner company. By the same order, this Court ordered for the reasons recorded in Para 5 of the order, that the meeting of the Unsecured creditors is not required to be held.