POWER BUILD LIMITED Vs. STATE

JUDGEMENT

(1.) THE present petitions are filed seeking sanction of Scheme of Arrangement in the name of demerger of Material Handling Equipment Division of Power Build Limited into Prayas Engineering Limited.

(2.) POWER Build Limited filed Company Application No. 47 of 2009 seeking directions as to dispensation of the meetings of the equity shareholders, preference shareholders, unsecured creditors and secured creditors. This Court vide order dated 26. 02. 2009 made in Company Application No. 47 of 2009 ordered dispensation of the meetings of the equity shareholders, preference shareholders, unsecured creditors and secured creditors.

(3.) PRAYAS Engineering Limited filed Company Application No. 48 of 2009 seeking orders as to dispensation of the meeting of the shareholders. This Court vide order dated 26. 02. 2009 made in Company Application No. 48 of 2009 ordered dispensation of the meeting of the shareholders.