SHYAM TELECOM LTD Vs. STATE

JUDGEMENT

(1.) THE applicants have filed this application under Sections 391 and 394 of the Companies Act, 1956 (hereinafter shall be referred to as 'the Act, 1956') for a direction of the Court as to the method of convening, holding and conducting the meetings of the shareholders and creditors of the respective applicant companies, as to the notices and advertisements to be issued, for the purpose of considering arid, if thought fit, approving, with or without modification, the scheme of arrangement proposed between Shyam Telecom Limited, Shyam Telecom Manufacturing Limited, Shyam Telelink Limited and Shyam Basic Infrastructure Private Limited.

(2.) SHYAM Telecom Ltd. (hereinafter shall be referred to 'the applicant company No. 1') is a company duly incorporated under the Act, 1956 on 3 -7 -1992; it was originally incorporated with its registered office at Delhi and subsequently the registered office was changed from Delhi to Rajasthan at B2 -D, Shiv Marg, Bani Park, Jaipur.

(3.) THE main objects of the applicant -company No. 1, as set out in the object clause of its Memorandum of Association, have been detailed out in para No. 5 of the application. The copy of the latest audited annual accounts of the applicant -company No. 1 for the year ended on 31 -3 -2004 has been submitted as Annexure -C to the application.