List of Ordinary and Special Resolutions under Companies Act, 2013
List of Ordinary and Special Resolutions under Companies Act, 2013
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Case List: Amalgamation
CASE LIST The fact that majority has approved the amalgamation scheme is not conclusive, however, it must be taken into account before in sanctioning the scheme. Sugarcane Growers and Sakthi Sugars Shareholders’ Association Vs. Sakthi Sugars Ltd., [1998] 93 CompCas 646 (Mad) J. S. Davar Vs. Shankar Vishnu Marathe, AIR 1967 Bom 456 While the court is not supposed…
ESOP under the new Companies Act, 2013
Can ESOPs be issued to the Promoters and Directors under the New Companies Act, 2013? What are the restrictions in terms of percentage? Section 2(37) of the new Companies Act defines employees’ stock option means (ESOP) as- “The option given to the directors, officers or employees of a company or of its holding company or…
In Re: Mohan Exports India Ltd. vs. Tarun Overseas Pvt. Ltd.
In case the proposed scheme is bona fide and genuine and is not against public interest then mere fact that certain immovable properties or right to recover debts etc. are transferred to the transferee company would not mean that they are in violation of any provisions of the Transfer of Property Act. However, if such scheme is only with the ulterior motive to transfer the immovable properties without payment of Government or statutory dues, then the same would be against the public interest and the Court will not approve the scheme.
Ram Parshotam Mittal vs. Hillcrest Realty SDN Bhd.
Ram Parshotam Mittal vs. Hillcrest Realty SDN Bhd. FACTS For a period of 2 years from the date of purchase of the preference shares by Hillcrest Realty, no dividend was declared or paid by the Hotel Queen Road Pvt.Ltd . Therefore Hillcrest Realty served a notice on Hotel Queen asking the Company to convene an…
IN RE Tecumseh Products India Private Ltd.
CITATION: 82 (1999) DLT 518 DECIDED on: 13.08.1999 FACTS In this case a Company Petition was filed by M/s. Tecumseh India Private Limited (“Transferee Company”) seeking amalgamation of M/s. Tecumseh Products India Limited (“Transferor Company”) with the Transferee Company. Both the Transferor and Transferee Company belonged to same group. The scheme of amalgamation provided that all…
In Re: Indusind Bank Ltd.
CITATION: (2004) 4 CompLJ 394 Bom DECIDED: May 6, 2004 BEFORE: Bombay High Court FACTS A company petition was filed by the petitioner IndusInd Bank Limited for sanction of Scheme of Arrangement between Ashok Leyland Finance Limited (‘transferor company’) and IndusInd Bank Limited (‘transferee company’) and their respective members and creditors. The Regional Director’s main objection was that…
very helpful…