{"id":120563,"date":"2010-01-06T00:00:00","date_gmt":"2010-01-05T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/centum-electronics-limited-vs-nil-on-6-january-2010"},"modified":"2015-05-04T05:38:19","modified_gmt":"2015-05-04T00:08:19","slug":"centum-electronics-limited-vs-nil-on-6-january-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/centum-electronics-limited-vs-nil-on-6-january-2010","title":{"rendered":"Centum Electronics Limited vs Nil on 6 January, 2010"},"content":{"rendered":"
Karnataka High Court<\/div>\n
Centum Electronics Limited vs Nil on 6 January, 2010<\/div>\n
Author: Ram Mohan Reddy<\/div>\n
}N THE HIGH COURT OE KARNATAKA, BANGALORE\nDA\"ED THIS THE Om DAY OF JANUARY. \"\n\nBEFORE\n\nTHE? HONBLE MR. JUSTICE}-RAM  \n\nCOMPANY APPLICATION NO}  X1333' 'O'EO~2oo\"PL,1CAER_M1ss1ON TO\nI--1OLI}').MEETiNGvO2'= ';:J=.1\u00a3\u00ab:'\"s1~IARL::I~1OLOERS. SECURED AND\nUNSECUREO V.CREO,'a;'1'ORs OF THE APPLICAN'I'\/\n\n \u00ab._TRAN:sE--E:RE:\u00ab: COM\"PANY BE HELD AT THE REGISTERED\n ,OE'FICI:\u00a7 AM; 'ETC.\n\n._ \"-\"._ATHis~v..\/\u00a7I-5~;t>'I;iCA'r1ON COMING ON FOR ORDERS. TI---IIS\n[my THE CO.UR'1\" MADE THE FOLLOWING:\n\nORDER\n<\/pre>\n
H  \u00b0j’I’}1C applicant. 21 Company mC.OrpOrat:C:d under the<\/p>\n
  Cpimpanies Act, 1956 having its mgistered Office in the<\/p>\n
L\ufb01k<\/p>\n
3<\/span>
\nIndia Limited, a company il’1(‘.()l'[I)()l’.’;-lf\ufb01\u00e9d Lmcler the
\nCompanies Act. having its registered office. in IVi’Vi.f;0′(w’.fl’c1′{‘\u20ac’,<\/p>\n
of Kamaiiaka.\n<\/p>\n
4. At Paragraph 14 of the e11’fEdavit.,_  <\/p>\n
the Bombay Stock Exchange <\/p>\n
Exchange have eolleiitiveiy_extehded the.if7wVrii.tei;1 ‘izoi.<\/p>\n
objection’ A1mexL1i’e\u00bb”G”.\n<\/p>\n
5. Leamed v\u00e9\ufb02lins\u00e9l  :.j_Lh\u00e9’~\u00ab..app1iC}\u00e91rit submits
\nthat there are 8.000 ec1’01.u._it:y..”‘she1re.l”i0–1::ie:%s, one secured<\/p>\n
c1*edit’0″I5″”a11de5.3180’L:risettureduVitredimrs for the value 8
\nC1’01’es’.7. The S$(‘:tI:I’C?d”\u00a3j_fC\u00bbdiI'()I’. it is stated. is cntitied to<\/p>\n
apprc)xim\u00a7iI:eI_y a..&’:rc)}*’.eV\u00e9iih1d 99 }akhs. Altliough the State<\/p>\n
 Bank 15):’ Endia, fi.he”‘\u00e93e(:u:’ed creditor. by leiter Armexure<\/p>\n
 “V’i_I.”‘V,” ,$’i;_.\u00a7I1’e0ti’-._vby the Assistant General Manager 81<\/p>\n
}i{C’~].’_E1ti(3’I’1f-‘-101″i.i’i;)A ;\\\/iariagei’. States that it has no ()bj\u20ac(.’.[‘.iO}1 to<\/p>\n
 the Scheme of merger, not being a resolution of the<\/p>\n
0’ -..E3ea.f*d c)i’1f)i;’eei.c)rs of’1″1″1e State Bank of India. the same<\/p>\n
 he  L1naCC.ept.ab1e,.i<\/p>\n
2%<\/p>\n
6. in<\/p>\n
the result. th\u00a7S application is allowed.<\/p>\n
Hence, the following order:\n<\/p>\n
[ii<\/p>\n
The applicant. ~ Company is <\/p>\n
corivene and hold the meetings   ”
\nshareholders. (?I’\u20acdif.O;FS’..b{)tI.:i V’
\nunsecured, on 26~2~21’OV1{\u00a7A:i3\u00a7ii <\/p>\n
pm. and 6.00 at it\u00e9 regi-sr,e_re’de”ofI’ic’e at ‘V<\/p>\n
No.44, KHI3..Ind1;si’i”i.\u00e9ii~Area, Yeiaharika New
\nTown Area!’  under the<\/p>\n
  Mallavgirapu,<\/p>\n
._  and failing him, Sri.<\/p>\n
\u00ab    Director.\n<\/p>\n
Tile ejiierukn for the meeting is 25% of the<\/p>\n
 shareholders, one secured creditor<\/p>\n
~ .\u00e91:’..:–1Ad 25% of the unsecured credit”.oi”s.<\/p>\n
 ._ _ {iii}?\n<\/p>\n
Vote by proxy is permitted. E<\/p>\n
 _<\/p>\n
3′)<\/p>\n
(iv)<\/p>\n
(vi)<\/p>\n
The Chairman shall issue individual nqtices<\/p>\n
enclosing copies of the sehea:e””\u00ab-._”‘Qf<\/p>\n
amalgamation, the form of pr0_}{y–  ‘
\nexplanatory ste1t:eme1’1\u20ac~\u00bbV as reqLV1v4i’1*’eVI<:i' Vuifijdefz,<\/p>\n
Section 393 to all <\/p>\n
and unsecured eIeed'itQrs; "\n<\/p>\n
The Coiiipa\ufb01y sl–i:alli- .eaL.1_s3e.”advertisement of
\nthe 11’1’eeting…in:._OV1.1ev–.edi{l.6nVe–f_’t.he “Hir1du” —\n<\/p>\n
     Edition) and<\/p>\n
;’Kaia\ufb011i;ada   Kannada daily<\/p>\n
1_’E-:._\u00a71’mon).; on or before 42-2010;<\/p>\n
Vlf lie,Cli21ivrrf11’21fi’..’isl1al1 file his report within two<\/p>\n
 weel{S”frQ_mvtl1e date of the meeting.<\/p>\n
A Sd\/Q
\ni3\u00a7’ldge*<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court Centum Electronics Limited vs Nil on 6 January, 2010 Author: Ram Mohan Reddy }N THE HIGH COURT OE KARNATAKA, BANGALORE DA”ED THIS THE Om DAY OF JANUARY. ” BEFORE THE? HONBLE MR. JUSTICE}-RAM COMPANY APPLICATION NO} X1333′ ‘O’EO~2oo”PL,1CAER_M1ss1ON TO I–1OLI}’).MEETiNGvO2’= ‘;:J=.1\u00a3\u00ab:'”s1~IARL::I~1OLOERS. SECURED AND UNSECUREO V.CREO,’a;’1’ORs OF THE APPLICAN’I’\/ \u00ab._TRAN:sE–E:RE:\u00ab: COM”PANY BE HELD […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-120563","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nCentum Electronics Limited vs Nil on 6 January, 2010 - Free Judgements of Supreme Court & High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/centum-electronics-limited-vs-nil-on-6-january-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Centum Electronics Limited vs Nil on 6 January, 2010 - 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