IN RE Vs. NIRLEP APPLIANCES PRIVATE LIMITED

JUDGEMENT

(1.) The learned Advocate for the Applicant Company states that the Scheme of Demerger will have benefit as under:

(2.) That a meeting of the Equity Shareholders of NIRLEP APPLIANCES PRIVATE LIMITED, "the Applicant Company" be convened and held at its registered office at B-5, MIDC Industrial Area, Railway Station Road, Aurangabad - 431005, on Thursday, 30th March 2017, at 10.30 a.m. for the purpose of considering, and if thought fit, approving, with or without modification, the arrangement embodied in the Scheme of Arrangement and Reconstruction between Nirlep Appliances Private Limited and Bhogale Automotive Private Limited and their respective shareholders and creditors ("the Scheme").

(3.) That a meeting of the only one, 10% Optionally Convertible Preference Shareholder of NIRLEP APPLIANCES PRIVATE LIMITED, "the Applicant Company" be convened and held at its registered office at B-5, MIDC Industrial Area, Railway Station Road, Aurangabad - 431005, on Thursday, 30th March 2017, at 11.30 a.m. for the purpose of considering, and if thought fit, approving, with or without modification, the arrangement embodied in the Scheme.