MULTIMETALS LTD Vs. STATE

JUDGEMENT

(1.) THE applicant Multimetals Limited filed this application under Section 391 of the Companies Act, 1956 (hereinafter shall be referred to as the Act of 1956) for a direction of the Court as to the method of convening, holding and conducting the meetings of the preference shareholders and equity shareholders of the applicant company as to the notice and advertisement to be issued, for the purpose of considering and, if thought fit, approving with or without modification, the scheme of arrangement proposed by Multimetals Limited.

(2.) MULTIMETALS Ltd. (hereinafter shall be referred as the applicant -company) is a company duly incorporated under the Companies Act, 1956 on 2 -8 -1962 vide Certificate of Incorporation No. 25586 of 1962.

(3.) THE main objects of the applicant -company as set out in the object clause of its Memorandum of Association, have been detailed out in para No. 4 of the application. The copy of the latest audited annual accounts of the applicant -company for the year ended on 31 -3 -2006 has been submitted as Annexure C to the application.