- (1.) The Counsel for the Petitoner has sought following reliefs : Fixing of the date of final hearing of the Petition. Directions for the issuance of public notice. The averment made in the Petition as follows : The authorised share capital of the Petitioner Company is Rs. 2,00,00,000/- (Rs. Two Crores only) and issued, subscribed and paid up capital is Rs. 49,00,000/-(Rs. Fourty Nine Lakhs only) having 49,00,000/- ( Fourty Nine Lakhs only) equity shares of Rs. 1 each.
(2.) In pursuance of the Directions passed by this Bench in Joint CSA No. 595/2017 order dated 09th June, 2017, the meeting of the Equity Shareholders was held on 21s1 July, 2017. The requisite quorum was present for the meeting and the scheme was approved with the requisite majority by the Equity Shareholders without modifications.
(3.) The Chairman of the meeting has filed his report dated 22nd July, 2017 which is annexed as Exhibit E to the Petition. After going through the submissions made by the Counsel and averment made in the Petition and without commenting on the proposed scheme following directions are issued to the Petitioner Company, that: 1. The Petition is Admitted. 2. The Petition is fixed for hearing on 07th September, 2017. 3. To publish a notice of hearing of Petition, in two local newspapers viz. One in English Language and one in Verna cular Language i.e. Marathi Newspaper, both having wide circulation in Mumbai as per Rule 16 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, not less than 10 clear days before the date of hearing.;