1. The present petition has been preferred under Section 391 read with Section 394 of the Companies Act, 1956 seeking sanction of this Court to the Scheme of Amalgamation between Monarch Research and Brokerage Private Limited and Monarch Project and Finmarkets Limited with Networth Stock Broking Limited. The petitioner had earlier preferred Special Civil Application No.133 of 2012, seeking an order of dispensation of meetings of Equity Shareholders and Secured Creditors on the ground that consent of Equity Shareholders and Secured Creditors has been obtained and produced on record. The petitioner had also sought directions to convene a meeting of the Unsecured Creditors. This Court, vide order dated 02.04.2012, made in Company Application No.133 of 2012, dispensed with the meetings of Equity Shareholders and Secured Creditors of the petitioner Company and further directed that a meeting of the Unsecured Creditors of the petitioner Company be convened on 05.05.2012. Shri Vivek Jain, Director was appointed as Chairman of the said meeting.
2. The petitioner has placed on record a copy of the report of the Chairman, Shri Vivek Jain, dated 08.05.2012 supported by his affidavit, in respect of the meeting of Unsecured Creditors. A perusal of the report of the Chairman suggests that this proposed Scheme of Amalgamation has been unanimously approved by all the Unsecured Creditors of the petitioner Company present in the meeting in person, or through proxy.
3. Admit.
4. Notice to the Central Government, through Regional Director, ROC Bhavan, Opp. Rupal Park Society, Behind Ankur Bus Stop, Naranpura, Ahmedabad
- 380 013.
5. Notice is also directed to be issued upon the Official Liquidator with directions to appoint Chartered Accountant for preparation and submission of the report, at the cost of the petitioner.
6. Notice of the hearing of the petition to be published in the English daily newspaper "Indian Express" and the Gujarati daily newspaper "Lok-Satta Jan-Satta", both having circulation in Ahmedabad. The publication of the notice in the Government Gazette is dispensed with.
7. The final hearing of the petition shall be held on the 27th day of August, 2012.
(Smt.
Abhilasha Kumari, J.) rakesh/ Top