RUTURAJ AGRITECH PVT LTD Vs. STATE

JUDGEMENT

(1.) I have heard Mr. Navin Pahwa, learned counsel appearing non behalf of Mrs. Sangeeta Pahwa for the petitioners.

(2.) THESE petitions are filed under Sections 391 to 394 of the Companies Act, 1956. The petitioners have prayed that the Court may sanction the Scheme of Arrangement in the nature of merger of Divya Arcade Ltd. With JP Infrastructure Pvt. Ltd and demerger of Iscon Mega City Division and Sundervas Bungalow Land " Hotel Project Division of Palitana Sugar Mills Pvt. Ltd into JP Infrastructure Pvt. Ltd and for demerger of Survey No. 472 land " residential project division of Palitana Sugar Mills Pvt. Ltd into Ruturaj Agritech Pvt. Ltd.

(3.) RUTURAJ Agritech Pvt. Ltd. Filed Company Application No 247 of 2008 seeking dispensation of the meetings of shareholders on the ground that consent of all the shareholders have been obtained. This being Transferee/resulting Company, meeting of the creditors was not required to be held. This Court, vide order dated 4. 4. 2008 made in Company Application No. 247 of 2008 ordered dispensation of meeting of the shareholders and also observed that this being Transferee Company, meeting of creditors is not required to be held.