C.A.132 2093
in THE HIGH com-rr or KARNATAKA AT "
DATED TI-I18 THE 111'! DAY or % T
BEFORE
THE Honrnw. MR. .ztITs1*1c¢'1si§c-z,z12An»r'§;§I$I»v '~ " k
coupmw APPLICATIG fi""HO.1V.32. G? k
BETWEEN:
1 PRATEEK LiFES'I'YLE LIMITED"
IS A COMPANY INCORPQRA'i"'ED.,UNf}.ER'~'§f'}i'E
COMF'ANiES.ACT 1956, AND HA3;/'{--NG'ITS'
RECHSTER ED"To»-:rF1c§*; A3' '"'MADHUVA«3~¥wV1 HAR"
#703, 1_s*I"'FLo;.Qr_:, 331)' B£,OGK,v..6'.FI~i' FEB"
CROSS; {NEAR 13173 SHQPPI-NC} COMPLEX)
KoRAMA»sCuaL:._g, 3 V '-- ~
BANGALORE 56:¢J'o34;.«V"- APF'LiCAN'I'.
(BY SR1. 4$AT1:s':éI',j.'+{D'sr,4'_L'Pz§}:;;§§1ANATH RA] ASSOCIATES}
AND: V . V' _
1 ,, .:;xz:L ~ V RESPONDENT.
_ “”*:*92~1i”s.5;f A?P:,1cAT1駧 IS FILES UNDER SECTIONS 391 TO
p394 ‘op ‘FHEaCO{v§PANIES ACT, 2956, PRAYING THAT FOR THE
REASONS_’SsTATEQ.}~THEREiN THIS HONEESLE comm’ MAY BE
PLEASED To.’jeRL>ER ‘I’I~IAT:~
THE c4oNvvi;:mfi~G AND HOLDING OF INDIVIDUAL MEETINGS OF
‘.SHARE3H§I}L£)ERS AND SECURED CREDITORS BE DISPENSED
‘”‘x__’W’~.¥’FH ANEIYTO PASS ORDERS TO CONVENE AND HOLE}
‘B-5,,EE’l’I-NG OF’ UNSECURED CREDITORS OF THE APPLICANT
CO§!I_PA.¥?iY TO APPROVE WITH] WITHOUT
._ ‘MC}.E)IFICATIONS/AMENDMENTS, THE PROPOSED SCHEME OF
QAMJELGAMATION AND ARRANGEMENT WHEREIN, IT IS
, ‘PROPOSED, THAT THE ENTIRE BUSINESS AND UNDERTAKENG
2 .
(LA. 13212999
OF PRATEEK LIFESTYLE LIMITED AND HUBLI .~&…?4l?A,REI.SA’
PRIVATE LIMITED BE MERGED AND VES’I’E’.D _=WI’Z’H’~ _’f_T§’I1E-.-_T I-
PRATEEK APPARELS PRIVATE LIMITED AS A GOING-._COI*3CEi?N’_ .,
ON THE TERMS AND CONDITIONS FULLY S’FA’I’_’éTD’ THE. SAID__
SCHEME 80 AS TO BECOME, AS F’ROi\d””I”i-IE A?PO!N’I’E-D DATE
AND E’I’C.,
THIS CA comma ON FDR ORIBERS, THIS-.IjAIV I
cover MADE THE FOLLOWING ”
oaneg-
In this applicati’e+n_ the
Companies Act, 1956, Lifestyle
Limited with
convening, of meetings of
of the company for
the “‘::f’ie scheme of amalgamation
and a.f1″e.t1geriienf:’whici1 at Annexure-“A” and has also
to hold the meeting of the
to consider the said scheme of
I I _ amaigam__afie1:iand arrangement.
I Iigearrled counsel appearing for the applicant-
refers to Paragraphs 28 & 29 of the affidavit of
“S1’§{.: Raghu A. Hegde, a Director of the applieant—-
/
W
CA. 132; 1;é<5es§j' – .,
Company and submits that the K
seven (7) shareholders and all igixim
individual letters of ecnsen1;~'»A11nexu_19e~"I" sefies to ,
-implementation of the scheIne’i’iw;iL*1outV”ai1;j}iaineigdment
or modification and ‘ nc “secured
creditors. ‘i ‘ i
3. In ‘ceri–.$e;'”it.”i:of:”igiief”shaibeholders of the
app1icant~c€€i:iV1.1}Jfi%?’i3;?§gIV. Valnalgamation and
” to above, the
hoiding xeifliei shareholders is dispensed
with. ; ‘ As the V-ccmgpaxiy has no secured creditors, the
is alsc dispensed with.
._ the amve, I deem it appropriate to
V V’ _ penfiit zfivplicant-Company to convene the meefing
K V’ V its misecured creditors to consider the scheme of
.’.ei«’_.ai’ija§i1§ement at Axmexure-“A”. Accordingly, I make the
T ” fcllosaring order:
W7/a
.{jv’}.__”~ti1e:”‘vvofing at the meeting shall be by
CA. 1.32’; :2′<)'e:§j ~ .
(1) holding of meetings of the b b’
and secured creditors’ “Oi”»the’._
relating to the schemelat :7-A
dispensed with. –
(ii) the appHr;ant~Com.pa-{fly permittedi to
hold the V ef unsecured
crediters on am. at
“Maaihg§ran:=A__Vihs§r”,”«. 1$z¢;vbo%3k;e:’: Floor, 3rd
EDA Shopping
M %%%% Bangalore-560
0.3-‘i’;v.*~V ‘ ‘
(iii) the meeting shall be
” ” fimsecured creditors;
poll and proxies shall be permitted
.. attend and vote at the meeting; the
” Pmxy forms duly signed by the
unsecured creditors shall be filed 48
hours before the meeting;
(V) the Chairman of the meeting shall be Mr.
Raghu A. Hegde, one of the Directors of
the Comiaany and failing him, Mr.
/,
3<\b/
c..A. 13212009
Pradcep Agar-wal, who is also one "
Directors, as an alternate Cha1'I'1I1a':Iji; . t "L".
(vi) the Chairman
I}(}tiC6S to the
applicant shall
of the notice of Eithe
English “File; (Baxitgalort-:
Ekfifion) and .n:}inct.Kaonada. dafiy
“xannaaa.p§abfia”j}Eangakfie Ednmnn,
on by ‘i234-Q.3–QG§39’;
(viii report of the
I A 14 days from the date of
tflmmw¢§aft
2t)(3~’). igailowed accordingly.
sd/-§__
Iudgé