IN RE Vs. L&T VALVES LIMITED

JUDGEMENT

(1.) A meeting of the Equity Shareholders of the Applicant Company, be convened and held at L & T House, N.M. Marg, Ballard Estate, Mumbai - 400001, on Friday, March 10, 2017 at 11.00 a.m. for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Arrangement between Larsen & Toubro Limited (the Transferor Company/Demerged Company) and L & T Valves Limited (the Transferee Company/Resulting Company) and their respective Shareholders and Creditors.

(2.) At least 30 clear days before the said meeting of the Equity Shareholders of the Applicant Company to be held as aforesaid, a notice convening the said meeting at the place, day, date and time aforesaid, together with a copy of the Scheme, a copy of the Explanatory Statement required to be sent under Section 230 of the Companies Act, 2013 and the prescribed Form of Proxy, shall be sent by Registered Post or by Air Mail or by courier or by speed post or by hand delivery to each of the Equity Shareholders of the Applicant Company at their respective registered or last known addresses or by e-mail to the registered e-mail address of the Equity Shareholders as per the records of the Applicant Company. The Applicant Company undertakes to obtain written consent for shorter notice of the meeting of the Equity Shareholders by not less than Ninety-Five Percent of the Equity Shareholders entitled to vote at the said meeting as per Section 101 of the Companies Act, 2013. The said undertaking is accepted.

(3.) At least 30 clear days before the Meeting of the Equity Shareholders of the Applicant Company to be held as aforesaid, a notice convening the said meeting, at the place, date and time aforesaid and stating that copies of the Scheme of Amalgamation and the statement required to be furnished pursuant to Section 230 of the Companies Act, 2013 and that the form of Proxy can be obtained free of charge at the Registered Office of the Applicant Company as aforesaid, shall be published once each in 'Free Press Journal' in English and 'Navshakti' in Marathi, both circulated at Mumbai.