SAURASHTRA CEMENT LIMITED Vs. STATE

JUDGEMENT

(1.) PRESENT Judge's Summons has been taken out by the applicant company Saurashtra Cement Limited for an appropriate order of calling and reconvening the adjourned meeting of the scheme lenders of the applicant company for the purpose of considering and if thought fit approving with or without modification the arrangement embodied in the scheme of arrangement and compromise between the applicant company and its scheme lenders.

(2.) MRS . Raval, learned advocate appearing for the applicant company has submitted that as such apropos the order passed by this Court dated 1.2.2007 passed in Company Application No. 31 of 2007, the meeting of the scheme lenders of the applicant company for the purpose of considering and if thought fit approving with or without modification the arrangement embodied in the scheme of arrangement and compromise between the applicant company and its scheme lenders was convened on 6th March, 2007, however, in view of certain clarifications sought by the secured creditors, the meeting is required to be adjourned and therefore, fresh meeting is required to be convened hence, the present application is filed.

(3.) ACCORDINGLY , upon the application of the abovenamed company by summons dated 10th May, 2007 and upon hearing Mrs. Raval, learned advocate appearing for the applicant company and upon reading of the affidavit dated 10.5.2007 filed in support of the Judge's Summons for directions and other relevant annexures attached in support of the contents of the affidavit filed by the deponent, it is ordered;