{"id":156134,"date":"2010-10-23T00:00:00","date_gmt":"2010-10-22T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/millennium-alcobev-private-vs-nil-on-23-october-2010-2"},"modified":"2015-07-27T03:23:20","modified_gmt":"2015-07-26T21:53:20","slug":"millennium-alcobev-private-vs-nil-on-23-october-2010-2","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/millennium-alcobev-private-vs-nil-on-23-october-2010-2","title":{"rendered":"Millennium Alcobev Private &#8230; vs Nil on 23 October, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Karnataka High Court<\/div>\n<div class=\"doc_title\">Millennium Alcobev Private &#8230; vs Nil on 23 October, 2010<\/div>\n<div class=\"doc_author\">Author: H N Das<\/div>\n<pre>1\n\nIN THE HIGH COURT 0F KARNATAK1'; AT BANGALORE\nDATED 'I'H\u00a7 THE 23*\" DAY GI' DCTQBER, 2019- \n\nBEFORE\n\nTHE HGNBLE MR. JUSTICE H.N.;qAGA.Ma\u00e9IAN:3As   \u00ab x <\/pre>\n<p>\/ n f; &#8216;<br \/>\nE <\/p>\n<p>mmmmmw.  \u00ab<br \/>\n24VITTALMAIJ.YA\u00a7.mAI.&#8217;1;&#8221;    <\/p>\n<pre>mmxawnswsamz.      ..APmcmr\n\n(arms   \n\n5%:\n\nR3.-,\n\u00bb \n\n<\/pre>\n<p>     under Seam&#8217; :1 391 afthe Cmmpanies<br \/>\nAct,&#8217;19\u00a7\ufb01_, tIvv,1*ia:3es&#8221;e.a&#8217;;..a9 ma: Campaaies {Court} Rules, 1959<\/p>\n<p> %  pmying~mt&#8217;fnj.- th&#8221;:fr;:~&#8211;ri\u00e9:-rxv\u00e9onx s-.-mi therein this Hcn\ufb02e cam may<br \/>\n&#8216; &#8220;hie p\u00e9ease\u00e9-no  w\ufb01h the meetings of equity sharehaldem,<\/p>\n<p>_  credizmfs and umacured credimrs cf the Applicant<br \/>\n_  &#8216;C\u00a21?ap&#8217;any1_1nd\u00e9r seam. 391m-he Comganies\ufb01ct, 1955 and em.<\/p>\n<p>   &lt;.:om\ufb011g an for ordmm this day, the Court<\/p>\n<p>-~..:&#8221;\n<\/p>\n<p>W&#8221;\n<\/p>\n<p>&#8230;\/<\/p>\n<p><span class=\"hidden_text\">2<\/span><br \/>\nHi<\/p>\n<p>This applica\ufb01nn is \ufb01led uncle: Secnion 391 r.:f*&#8211;..f::h:e<\/p>\n<p>Campanies Act, 1956 1&#8242;.\/w Rules 6 and 9 cf the  <\/p>\n<p>was, 1959, ft): permissiaz: m dispensg   \u00bb <\/p>\n<p>the apphm&#8217; 11: Company and&#8217;V.?i&#8221; W&#8217;  &#8221; L&#8217;<\/p>\n<p>ma\u00e9i\ufb01cation. the prcpased\ufb01zezxx.-2&#8242;  aiapiicantf<br \/>\ntmn\ufb01emr company with  I transferee<br \/>\ncompany.    is produced at<\/p>\n<p> w~a;sVin::ezpara:ed in the Snare of<\/p>\n<p>  of under Sectian 13(3) at&#8221; the<\/p>\n<p>  and in carpi):-the icixmtity<\/p>\n<p> N\u00a7k.U1ss31)m\u00a799mx:oss5o7. The applicant was inxsmparated<\/p>\n<p>en. mi  (if manufmstum Alcchcal, Rec:1\ufb01e&#8217; 6. Spirit,<\/p>\n<p>&#8221; a\ufb01\ufb02 industrial&#8217; Alcohol, in mazmfactara, brew, distill,&#8217;<br \/>\n   prepare, process, render parable or mariaembie<\/p>\n<p>;\\-.._z&#8221;-&#8230;-\n<\/p>\n<p>j&#8221;\n<\/p>\n<p>I<\/p>\n<p>l_,\/<\/p>\n<p><span class=\"hidden_text\">3<\/span><\/p>\n<p>a\ufb02sam of\ufb01qnmrgwinzs, apirim and beers; in carry an a\ufb02 or any<\/p>\n<p>of the husim of make fncmrs, general and wine a11d;.\u00a7i&#8217;pi2&#8217;i&#8217;E8<\/p>\n<p>merchatsxs. either as expamers or importers &amp;\ufb01d&#8217;.~&#8217;.&#8217;\u00a7i$j:\u00a7\u00a7_\u00a3$fiiE\u00a7;<\/p>\n<p>stopper makers, partners,   <\/p>\n<p>and a\ufb01neral mmm and other     <\/p>\n<p>house lmpers. yam \ufb01ealexrgi andmore  in<br \/>\nthe memnmndum and a1-g\ufb01 &#8220;-.:gg&#8217; &#8216;V  the apphc&#8217; an:<\/p>\n<pre>\n\n3.  mm  W icanr campmy \u00a33\n\nmama at UB     Maliya ma, amgalm\n\n-569 w1'   \n\nA \"'    wpiml rrf the applimnt campany as\n\n<\/pre>\n<p> % 31.3.2319  %%kas.2.9a.aso,o:moe1&#8211; (names Two Humired<\/p>\n<p>   inns 2,a0.na,cm equixy sham cf 33.1%\/~<\/p>\n<p> &#8216;V-V:'(R\ufb01\u00a7$ee:\u00a7%Ten) each and :.,5a,aa,a3a @ 9% mm &#8220;A&#8221; mmrerwe<\/p>\n<p>f&#8217;\\_z<\/p>\n<p><span class=\"hidden_text\">4<\/span><\/p>\n<p>Re\u00e9eamame preference share {if Rs.IMi- (Rupees hundred } each<\/p>\n<p>canversib\u00e9e imae ma:n~vo&#8217;s\u00e9ng aquiry shares at: the semi of 24 <\/p>\n<p>from the date of issue and Rs.30.0B,mGl- @ <\/p>\n<p>mxzvertsibae Redeemabie preference that-e of  &#8221; <\/p>\n<p>hundred } each convertible int:  <\/p>\n<p>and of :24 moms from me  .2;  \ufb01t ,<\/p>\n<p>and pai\ufb01-up equity share:  eiivided<br \/>\nim 1,53,50,\u00a3J\ufb028   Ten) each and<\/p>\n<p>the isued,  &#8220;A&#8221; zzamver\ufb01l\ufb02e<br \/>\n (Rupees hundred ) each<br \/>\n\u00a2::nv2n\u00a3Ete   \u00a7ha2\/an at the and at&#8217; 24 months<\/p>\n<p>from  \u00a313&amp;u\u00a53f_:5&#8217;V.EEE1\ufb01 &#8216;i\ufb01  of Rs.i{l3.f~ each fully paiddzp<\/p>\n<p>  la Redeemable preference share<\/p>\n<p>A  equity shara at the and of 24 mzanths<\/p>\n<p>%   Lk \ufb01*oz\u00a7ft1:g\u00a3c;fissue 1.340.0wofRsI00!&#8211; mhfuzzy pai\ufb01&#8212;-ttp.<\/p>\n<p><span class=\"hidden_text\">5<\/span><\/p>\n<p>\u00a7.&#8217;i&#8217;hecapyofthelatmtaud&#8217;me:iB:a1anx:eSheetnd\u00a3&#8217;the<br \/>\napplicant: mm\ufb01ny made up 123 31.832810 furnishes! at <\/p>\n<p>~G..\n<\/p>\n<p>5. The Ema of Damn cf the #4: is &amp;  <\/p>\n<p>meeting held an 13.(I9.2G1\ufb02 have ami.&#8217;:\u00a7veg:1 &#8216;\u00e91ia p;\u00a2;magah;\u00a2ej*<\/p>\n<p>arf amalgamndnn by vimxe of     V .,_:_:;Va:.:&#8217;,&#8221;1-_y via <\/p>\n<p>praposeai no he mama  the: #5<br \/>\nBmweries ma, 3.  zjae prav:sm&#8217; &#8216; as of<\/p>\n<p>the campanm  at UB Tawer, U3<br \/>\nCity&#8217;. Na3\u00a3\u00bbg&#8211;wVi\u00a7#&amp;i zigzag: zx;jqad. Ban&#8217; *~g.&#8217;.u&#8217;}re &#8211; 550 091.<\/p>\n<p>7. }:\u00a7s~ 1_\u00a7er  J51: Anneamre \u00bb A mue\u00e9&#8217; by the<\/p>\n<p>  the Campazzy, there are three equity<\/p>\n<p>  :V&#8217;;a\u00bb\u00e91:\u00a7&#8217;ti&#8212;.1322: secured craditzam and fan: unsecured<\/p>\n<p>   Qppaicam company and all the sharehal\u00e9ers and<\/p>\n<p> credimtn and mmutued creditcits have wen their<\/p>\n<p>  letters mung that they have rm ul\ufb01ec\ufb01on no seek<\/p>\n<p>T  aiipensatzion of the meeting of me  m, secured and<\/p>\n<p>w_,\\V;\\&#8230;\n<\/p>\n<p>J<\/p>\n<p><span class=\"hidden_text\">5<\/span><br \/>\nunsecured cnsditors of the application mznpany far appmving the<\/p>\n<p>scheme of amalgamation as per Annmaxxaes &#8211; N as S.<\/p>\n<p>9. Bare} the learned amuse} for the  .. .  <\/p>\n<p>the emira payers.\n<\/p>\n<p>13. The application   <\/p>\n<p>relating to the company Vang  .i$;s__ jz\u00e9e\ufb01ss\u00e9ary  dispense<br \/>\nvsri\ufb01 the mee\ufb01ng of  secured and<br \/>\nunsecar,-ed    acmrdance with<br \/>\nlaw&#8217;     .\n<\/p>\n<p>i) A<br \/>\n    51&#8242; equity sharehalclers,<br \/>\n &#8216; &#8221;  _   and unsecured creditors are dispense\u00e9 with.<\/p>\n<p>.&#8217; &#8216;  . &#8216;  sccordmg&#8217; Iy.\n<\/p>\n<p>Sd\/E<br \/>\ngad\u00e9\u00e9<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karnataka High Court Millennium Alcobev Private &#8230; vs Nil on 23 October, 2010 Author: H N Das 1 IN THE HIGH COURT 0F KARNATAK1&#8242;; AT BANGALORE DATED &#8216;I&#8217;H\u00a7 THE 23*&#8221; DAY GI&#8217; DCTQBER, 2019- BEFORE THE HGNBLE MR. JUSTICE H.N.;qAGA.Ma\u00e9IAN:3As \u00ab x \/ n f; &#8216; E mmmmmw. \u00ab 24VITTALMAIJ.YA\u00a7.mAI.&#8217;1;&#8221; mmxawnswsamz. ..APmcmr (arms 5%: R3.-, [&hellip;]<\/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-156134","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Millennium Alcobev Private ... vs Nil on 23 October, 2010 - Free Judgements of Supreme Court &amp; 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\/millennium-alcobev-private-vs-nil-on-23-october-2010-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Millennium Alcobev Private ... vs Nil on 23 October, 2010 - Free Judgements of Supreme Court &amp; 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