ADITYA CONTAINER FREIGHT STATION PVT LTD Vs. STATE

JUDGEMENT

(1.) THE present petitions are filed seeking sanction of Scheme of Arrangement in the name of demerger of CFS Division of Gandhidham Developers Private Limited into Aditya Container Freight Station Private Limited.

(2.) GANDHIDHAM Developers Private Limited filed Company Application No. 350 of 2008 seeking directions as to convening of the meetings of the equity shareholders, secured creditors and unsecured creditors for considering the Scheme of demerger. This Court vide order dated 15. 05. 2008 made in Company Application No. 350 of 2008 has directed to hold meetings of the shareholders and creditors on 13. 06. 2008. It is stated on behalf of the petitioner that the meetings were adjourned from time to time and finally the adjourned meetings were held by the Chairman of the respective meetings on 15. 12. 2008. As there was some delay in filing the Chairman Report in respect of each meetings, the petitioner filed OJ Civil Application No. 6 of 2009 seeking enlargement of time to file Chairman Report in respect of each of the meetings. This Court vide order dated 16. 01. 2009 made in Company Petition No. 5 of 2009 with Civil Application No. 6 of 2009 ordered extension of time for filing the Chairman report in respect of each of the meetings. This Court also ordered that filing of the Chairman Report with the memo of Company Petition is to be treated in due compliance with the directions issued in the order dated 15. 05. 2008 made in Company Application No. 350 of 2008.

(3.) ADITYA Container Freight Station Private Limited filed Company Application No. 349 of 2008 seeking directions as to convening of the meeting of the equity shareholders for considering the Scheme of demerger. This Court vide order dated 15. 5. 2008 made in Company Application No. 349 of 2008 has directed to hold meeting of the shareholders on 13. 06. 2008. It is stated on behalf of the petitioner that the meeting of the shareholders was held as scheduled and Chairman Report is also filed. However, it appears that there was some delay in filing the Chairman Report. Accordingly, the petitioner filed OJ Civil Application No. 5 of 2009 seeking enlargement of time to file Chairman report in respect of the meeting. This Court vide order dated 16. 01. 2009 made in Company Petition No. 4 of 2009 with Civil Application No. 5 of 2009 ordered extension of time for filing the Chairman Report in respect of the meeting. This Court also ordered that filing of the Chairman Report with the memo of Company Petition is to be treated in due compliance with the directions issued in the order dated 15. 05. 2008 made in Company Application No. 349 of 2008.