IN RE: M/S. SABOO ISPAT PRIVATE LIMITED; M/S. SABOO ALLOY PRIVATE LIMITED; M/S. SABOO TOR PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) Company Application No. 11003 of 2013

(2.) THIS is an application instituted by the petitioner under the provisions of Rules 6, 7 and 9 of the Company Court Rules, 1959 seeking condonation of delay of six days in getting the notice published in the official gazette/E -gazette of Himachal Pradesh. Vide order dated 9.5.2013 this Court had directed that meeting be convened on 15.6.2013. Notices were published within time in the daily news paper, in term of the orders passed by this Court. As per Rule 76/73 notices are required to be published 21 days in advance, prior to the date fixed for the meeting. The delay is only in the publication of the notice in the gazette which is inadvertent, unintentional and for the reasons so explained in the application. Learned counsel has relied upon order dated 30.5.2011 passed in Coy. Petition No. 1 of 2011, titled as JHS Svendgaard Hygiene Products Limited vs. Waves Hygiene Products and order dated 13.6.2012 in Coy. Petition No. 1 of 2012, titled as M/s. Himachal Fine Blank Limited vs. M/s. KDDL Limited, in support of his contention that no prejudice would be caused to any person and in any event, objecting parties, if any, can freely raise objections at the time of Second Motion Petition. These orders have been passed by this Court.

(3.) THIS petition has been preferred by the petitioner herein praying for convening of meeting of share holders/creditors to consider the scheme of amalgamation at the meeting so convened. Vide order dated 9.5.2013 the Court rejected the applicant's prayer, seeking exemption from holding meeting(s) of the Shareholders, Secured Creditors and Unsecured Creditors of the Transferee Company. Hence Court appointed the Chairman and an alternate Chairman for convening and holding such meetings.