{"id":248257,"date":"2009-12-09T00:00:00","date_gmt":"2009-12-08T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/veer-o-metals-private-limited-vs-nil-on-9-december-2009"},"modified":"2017-07-28T12:06:50","modified_gmt":"2017-07-28T06:36:50","slug":"veer-o-metals-private-limited-vs-nil-on-9-december-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/veer-o-metals-private-limited-vs-nil-on-9-december-2009","title":{"rendered":"Veer-O-Metals Private Limited vs Nil on 9 December, 2009"},"content":{"rendered":"
Karnataka High Court<\/div>\n
Veer-O-Metals Private Limited vs Nil on 9 December, 2009<\/div>\n
Author: Ram Mohan Reddy<\/div>\n
IN THE HIGH COURT OF KARNATAKA AT BANGALORE\n\nDATED THIS THE 09\"\"! DAY OF A'\n\nBEFORE\n\nTHE HONELE MR. JUSTICE RA'I'v'I~   O\n\nCOMPANY APPLICATION NO\u00a7'O996 OE2m9 \n\nBETWEEN:\n\nvEER--O-METALS .I>RIVA'.IfE LIMITED \"*\n\nA COMPANY INCORPORATED_U1'\u00a7DER_'THE_\n\nCOMPANIES ACT, 1956, H_.\u00a3_IVIN(3'1\"1'S__A   \"\nREGISTERED OFFICE AT.NOV.A>D2.,  2. '-\n\nBEL INDUSTRIA.\u00a3,'E_STAfI'E,'  ' \nBANGALORE-3-O    g  \u00bb......,__AppLICANT\n\n{BY SMT. Vi {_3fA;\u00a7I\"C\u00a7[.\\B.A1'  B A\/  \nAND:,\" W O  E E\" \nNIL  4- O   RESPONDENT<\/pre>\n
V_T1IISO’A;DI5LICATION””‘IS FILED UNDER SECTION 391
\nOF  CCOMPANIES ACT, I956 PRAYING To MEETING BE<\/p>\n
 “‘.HEL4U.  ~.SI~IAREI+IOLDERS AND CREDITORS OF THE<\/p>\n
.AI3=OVE_ COMPANY. FOR THE PURPOSE OF CONSIDERING.<\/p>\n
 _AND”‘I_F”‘-‘I’I~:.O:IGI;IT FIT, APPROVING WITH OR WITHOUT<\/p>\n
‘I.4I_ODIFICAI?I_OI\u00a7’S, A SCHEME OF AMALGAMATION
\nPROPOSED – ‘:60 EE MADE BETWEEN THE COMPANY AND
\nTHE”~SAI.D SHAREHOLDERS AND CREDITORS OF THE SAID<\/p>\n
7.__COIvIPANI? AND ETC.\n<\/p>\n
   APPLICATION COMING ON FOR ORDERS,
\n   THISDAY THE COURT MADE THE FOLLOWING:<\/p>\n
M  <\/p>\n
0 R D E R
\nThe applicant, a company incorporated under the<\/p>\n
Companies Act<\/a>, 1956, for short ‘Act’, hax*in’g:l~its<\/p>\n
registered office at the address shown in the ~<\/p>\n
carries on business of manufacturing, pr’oc’ess_ing’~ all it”<\/p>\n
kinds of quality precision sheet nadetall iconilponelnts,dfeitc\ufb01gip<\/p>\n
amongst others, as set out_’in the”-memo: ‘and ” A<\/p>\n
Articles of association, Annexure’~vA;” -.<\/p>\n
2. The authorised’,v:l’st1’tivscribedland’paid up share
\ncapital of thes_”apfplican-t more fully speci\ufb01ed
\nin paragraphVlV3VVof., jti1e”‘a;f:fi’da*.rit of one Mr Shamsunder,<\/p>\n
Managing’tDirectorl*l.of  applicant company. The<\/p>\n
 l3ai2=.1\u00a7:1acei’sheet.’madeupto 31.3.2009 Anr1exure-B, duly<\/p>\n
 attdttedbvl ‘dbysiits Chartered Accountants discloses a its<\/p>\n
assets a’n’d”.”liapbilities.<\/p>\n
At para 15 of the affidavit, it is stated that<\/p>\n
A  rt-he\u00bb.}\u00a7oard of Directors of the applicant company have<\/p>\n
ll  .approved and adopted the Scheme of Amalgamation<\/p>\n
rt<\/p>\n
_ \/’<\/p>\n
4<\/span><\/p>\n
[ii]<\/p>\n
enciosing _ copies<\/p>\n
4<\/span><\/p>\n
S\u20acCL1I’\u20acCl unsecured<\/p>\n
2.00<\/p>\n
shareholders, and
\ncreditors on 16.01.2010 at 1.00 p.rn.,
\np.rn. and 3.00 p.m. respectively, at the
\nregistered office of the applicant company, at
\nNo.A–02, BEL Industrial Estate,
\nW560 o13.  t<\/p>\n
of<\/p>\n
Managing Director, ffaiiiiig ‘-\u00abhin1.V:M1’s,Renu.<\/p>\n
Bangalore<\/p>\n
chairmanship<\/p>\n
Sham Sunder, Directorttof  <\/p>\n
company.\n<\/p>\n
The quorurn of Vlnzeleting of”the secured
\ncreditors “shalll-r_  002;’: {two}. unsecured
\ncreditors shaEl_be 1.0%.:  0 it<\/p>\n
Vote’   __lp ermitted;\n<\/p>\n
  shall issue individual notices<\/p>\n
of the scheme of<\/p>\n
arnalgaination, the explanatory statement<\/p>\n
“the form of proxy as required under<\/p>\n
Section 393<\/a> to all the unsecured creditors;<\/p>\n
iv} 1<\/p>\n
The Company shall cause advertisement of
\nthe meeting in one edition of the Engiish
\ndaily “The Hindu” (Bangalore Edition) and
\none edition of the Kannada daily “Samyukta<\/p>\n
M<\/p>\n
u_n:dle’I’ f j ~._ 2′ _<\/p>\n
shagm_–sundenuu*<\/p>\n
In<\/p>\n
(Vi)<\/p>\n
5<\/span><\/p>\n
Karnataka” (Bangalore Edition) on or before
\n24–12~2009:\n<\/p>\n
‘1’ he Chairman shall \ufb01le his report mthinjtwo<\/p>\n
weeks from the date of the meeting. 5    <\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court Veer-O-Metals Private Limited vs Nil on 9 December, 2009 Author: Ram Mohan Reddy IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 09″”! DAY OF A’ BEFORE THE HONELE MR. JUSTICE RA’I’v’I~ O COMPANY APPLICATION NO\u00a7’O996 OE2m9 BETWEEN: vEER–O-METALS .I>RIVA’.IfE LIMITED “* A COMPANY INCORPORATED_U1’\u00a7DER_’THE_ COMPANIES ACT, 1956, H_.\u00a3_IVIN(3’1″1’S__A ” […]<\/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-248257","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nVeer-O-Metals Private Limited vs Nil on 9 December, 2009 - 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\/veer-o-metals-private-limited-vs-nil-on-9-december-2009\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Veer-O-Metals Private Limited vs Nil on 9 December, 2009 - 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