High Court Karnataka High Court

Lj Victoria Properties Private … vs Nil on 23 January, 2009

Karnataka High Court
Lj Victoria Properties Private … vs Nil on 23 January, 2009
Author: Mohan Shantanagoudar


ZN ‘ma HIGH coum” 0? KARNATAKA AT J
DATED ‘THIS THE 23*”

BEFagE % V ( _%. .

mg Homaa MR.Ju$11cEA§§r§%aAra:.}ss4Aassz”aéNx;isouaAa
campmv A:$£:%LzcAf§:c§ég;%%2~¢{).44&~5/2009

BETWEEN: ~

Ldwvictoria Lin1i’:ed,

I Fiootg V_E?Vmbaés§*1;PQizx,-£__.” ‘ ‘

159, ::nfa::t:–gf.z§aa£;, _ _

Ba11g£=;}o1’%3′-*’ 5€3{}'”@{) L_ ‘ – WAPPLICANT

{By M;

Aggg)’: ”

,.RESPON£)EN’}”

.. “E’_’h’i:?. {“30:z3pan3: application is flied under $e:€4:io:3s 391
to 3334 cgf the Cempanics Act, 1956, read with Rules 6 5:4 9 of

file Cfimpanies (Caufi) Rules, 1959, pmyring that for the
rzéédmpns stated therein this H’o11’§31e Com’? may be pleased

‘ ?:i1.9t=tI1e meeting at” the: Equity Sharehelders czsf the Appiicant

« Cempany Imder Section 391 of the Companies Act, 1956, ‘be
.. _dispensed with if cens§11ie
II1vest:n::ents Private Limited, LJ’ViCtQIia::”‘ Vf?’1″iV{_¥f§

Limited, Stwwood Properties Pri’:{at’c A’Limii’:: ci,*~ _ PoI}?§ir'{>§}cE._
Propertiss Private, Limited,’ §}3rnaS’t§r “{)&ve}<3';3§:2rs Private V' ;
Limited and their Res}}e¢tiV,e"'-.vSha1~€<22§)i(3s¢rs: f2:1.ei*=ai1izafter"

rsferred to as the 'Schema? azldkztc'.

This Casmpany £:i§p3:icati§c}H1§_'C=£§ *i;Eig_(:an fogofxders, this
day, the Court made t§1é«fo1I0winf§;g:» . V.

The is "£ié:3§"'af : 'F;'a11sft:mr Companies.

'E'he app}ica1':V§V-;{;t} H'jz*§»;€i'f;yAV on 12.9.2508,
under the prdv§§iéI:s'€:f Act, 1956 with

the Rat:gistr.=;;~.n;° C9i11~pfaI:iés,"KJar:1ataka.

-..A’E1’ni{:”; is fiiéci for §6i’I31iSSi(}i”1 :0 dispense

thé ::i’eéti:ig’§é}i’j;sf:’€q:1ity sharehelfiers and u:1$ec;:u1’ed

_ .CIEfiiifl?$ 9:-f €111′: appiicant~60inpaIi}a

\/>

.5′

iilfiffiafifi in shazfiiimider vaiuée. Therefam, EEIE; i$

éxpectad “E0 improve afficiezlcy, r6:-suit

markefing sy:r1ergz* Eiflii achiéi’-mi: r3jC:§IT§(I§};I1j§? §_:”1_ £23363?-.’é;i§f.1a}”—-

casts and wcsuid be: oi’, : mutiié-.1}_ A1′:-3

cemparfies (Z’OI€1{.’2E’3I’Ii€d.

6. All ilhfi {}f the app}iCa1’1t—-

eampany ‘§3,;«f.:’$f§;:. writirig, fer the
progaesed ShE3l’€h0}€}€E’S, as per
flizeia %}i3″‘C;har’€ered Accotmtant and
the 1″é::{}7£”::$vc:fI;’§; fpxgociuced at A11ne:»n.,1re~}{XV ta

%€;h€. _a13;§§ieati€’s:;; _ A

Ti*:¢i-:5, am no secrurezi creditors and urisétvzzured

~_ %:;re(1§;5{{5rs far the 33:-piicanbcssmpangr’. T136

éértiiicaigés issued by the Chafifired Ac:’;~:3untas1*:£ in mat

” ‘1*sgafd are }3I'{}d3;1(3{3{3 at AnI1&xz:3*e$~XXV} arid XXWE ‘ic-

appficatian.

Y/5

En 1’€S}}€Ct of the tzrisacured tratia C1″fis..’3..v.’:.’4’£*._e’::*(*’_s~e-,”;§f£f” is

submitteti that this aggegaie assats ef “i:’.ifa: 1sf5-:¥,1″fi~1iV»

Compajxies being transferriéd :,

C%3i’i3}3€tIi3? are more than 331:: liabiiifies wjh”;e_:.h a.1’e:}béi:1.g*g

transferrfid to the Trwxsfifégé fie net
vmrth cf the TI’311:E’;fé}*€§ “«wf0uIcVi ificrease in
pursuance of the VA ‘E’.}’1va§ ‘ZS-i-‘.”1V*:e1I1t3 dues not
envisage ?3f”Yi;1€ unsecmed {Katie

crfiditers; 7..

17:1 Tsziefixv gfif the meetings of me e.q11ity’

shaxsheiéégc-r§*; ‘=_ufi?;~2ecur-ed trade creditars {$5 the

V’ . a;;2=§iii:ai1i«§:v3133péui§j%’a1’& ciispensed with.

4¢§;%;é1°4″ ” Jud

fi;§i§;f1ié;:iien is fisposeci of accoifiiaaghs.