{"id":263088,"date":"2008-03-10T00:00:00","date_gmt":"2008-03-09T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/united-spirits-limited-vs-nil-on-10-march-2008"},"modified":"2014-12-28T06:07:39","modified_gmt":"2014-12-28T00:37:39","slug":"united-spirits-limited-vs-nil-on-10-march-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/united-spirits-limited-vs-nil-on-10-march-2008","title":{"rendered":"United Spirits Limited vs Nil on 10 March, 2008"},"content":{"rendered":"
Karnataka High Court<\/div>\n
United Spirits Limited vs Nil on 10 March, 2008<\/div>\n
Author: Ajit J Gunjal<\/div>\n
IN THE HIGH COURT OF KARNATAKA, I-3A,I\u00a7I\u00a7I;iII\u00a7eI2E\n\nDATED THIS THE 10'\"! DAY OF  & \nBEb'\u00a3;)R\"E\"'   ; I A X n  \n\nTPE HQNBLE MR, JU3'FE\"E_ AJfF.'J G\u00a5.l'N-.}'I'aL '\n\ncm. No;IseI84 01%' 2003 2  \nB EEN:  _ ', \n\n1 UNITED SPIRITS' I.JVI}t\ufb02'IV'I':EI:).\"',   .. \nUB TOWER  gs  I  \n# 24:,\"  RQ!='L1..~~\nBANGALO]RE+O.1_ \"     \n\ncLI%Iv1:+\u00e9E..I4'{    .  .\n\n{By SRIIUBAY.-'-_': HGEJQA, Jmuun CUUNSM.\n\nE01; M \/ss.IIoLLAI AND HOLLA, ADV.\n\n'l'3'lI'I'J\"\"\\'IW\n\n RESPONDENT.<\/pre>\n
~ ‘This Cempany Application is \ufb01led umler Seem’-he<\/p>\n
|u|\\-ll -I-USP<\/p>\n
 E. ,391’of the Companies Act<\/a>, 1956, R\/W Rules 6 and 9 of the<\/p>\n
 _ Cr:nm’parIies(CoiII-‘ti Rules, 1959, praying that ibr the<\/p>\n
 “reasons stated therein this Hon’ble Court may be pleased
\n to onder:– –\n<\/p>\n
that separate meetings of the eqI.Iity shareholders,
\nsecurea” I I ‘ creditors and unsecured creditors of the appixcan’ t
\ncompany, under section 391<\/a> of the companies Act, 1956,<\/p>\n
be convened and held for the purpose o1’vVeo:iie%ideri:1g,
\napproving with or without modi\ufb01cation,  .’L;;i’eposed
\nscheme of amel\ufb01ation of 2_5e1in_ke LLID__ii\u00e9d’  piaiteci
\nSpirits Limited and etc.,  “‘ ”  ‘<\/p>\n
This C.A. coming on
\nmade the following:          ~<\/p>\n
9. dif\ufb02v\ufb02 \ufb01aiiw Itnrga’ ‘.-nii er ‘*mm=-,1-i-no of<\/p>\n
G La st ‘Pl-i n\\ra_ vvna-I -wanna-1 ‘ o0-Q5’-t’I.rs~&-la -una ‘ ya; u
\n5 . , g  ‘O “‘1 v<\/p>\n
seeldn
\nshaxehoidelfgu \u00a7cC1:II’\u00a2’3’L’i.– ” creditors
\nof the 5.   section 391<\/a> of the
\n V.   purpose of considering and
\n  modi\ufb01cation the proposed<\/p>\n
\u00a3191.11  ‘IL, I ‘ol4l–.I. \\.-ll. hl.|.ll.|.II<\/p>\n
sch-v-6 #~*’ -i;me;g.;az-.\u00a7ia.em -+’ H mm  {swam and<\/p>\n
 L’i’mi.t__e_civ and Prime Disuibutors Private Limited<\/p>\n
e  e (mm yz\u00e9ithmc United Spirits Limited (USL).<\/p>\n
2. .  u:_’I’.h”e SWCL was incorporated on January 15, 1945<\/p>\n
up to date copy of the Memorandum and Am’ “cies of<\/p>\n
Association of awe}. is to be found at Annexune-B. The<\/p>\n
main objects of the SWCL as set out in the Memorandum<\/p>\n
die<\/p>\n
-M<\/p>\n
of Assoc-i”‘on  to carry out all or any ot’*’tr1e”,j’bi:siness<\/p>\n
and to take part in the management; or<\/p>\n
control of the business or operation   A’ <\/p>\n
association, \ufb01rm or person anti as’i;~.r as<\/p>\n
3. The    November 7, 1989
\nwith   l\\,4a,hs_!’a..h.tra. An up to
\ndate.’    mt’: nrt’r-i’s ‘f Association
\nof “Le,  is to be found at Annexure-D.<\/p>\n
The   object’s  the PDPL as set out in the<\/p>\n
‘V V’  ._ i\u00a3l{en1eraz1g1un1Vot”l5lssociation is to carry on the business as<\/p>\n
  A–A;__;ent, Manufacturers’ representa..i.es, dealers<\/p>\n
and d,is.t’fi.–l)11t0FS, sales co-rrdirrtrrs, c'”nn1ission agents,<\/p>\n
 agents; sub-agents, brokers, sub-brokers, factors,<\/p>\n
 ‘~wlfi’oleseHers, retailers, importers, exporters, buyers and<\/p>\n
 sellers in all commodities etc;<\/p>\n
‘A?\n<\/p>\n
*2.”\n<\/p>\n
\n
4 – -he J_L we… i___.-rpor_w-\u00a2,1 ,1;   in the<\/p>\n
name of Ivic\ufb01oweii ‘Spirits Limi cu  {nae  of<\/p>\n
a.A.I _’ “_..\n<\/p>\n
Companies, Kamataka. The  _– of  . <\/p>\n
subsequently changed to MeI)ova’r’el1T’aiid’ ‘Limited C<\/p>\n
pursuant to Fresh  of  \ufb02oated<\/p>\n
A3′.-..l 12, 2oo1 .9 the m.___;j.\u00a2. -;.i,m.. pi..u’.s1__– t- t_-_. <\/p>\n
Certi\ufb01cate oi’i11co15poi’aiioIi*\u00bb(iate\u20aci_  to; ooe.<\/p>\n
5   __of the Applicant Company<\/p>\n
has1>1ppi*oire&g:.andjisdoptedwtlie Scheme at its meeting held<\/p>\n
on”A28,_1 1.25-o?,s3-.  oi L45 -.,w-L …I1d .. D. L be1.-g .11-<\/p>\n
 Vdo\ufb01ipenies are proposed to be amaigamated<\/p>\n
 the AA  vpiicant Company, being the Transferee<\/p>\n
it  ” {‘.ort1:p.\u00e9tri;\\:f,'”:.subject to the approval and sanction by this<\/p>\n
  ‘ whose jurisdiction the registered o\ufb02ice of the<\/p>\n
fl’?-nu.  g\\\ufb01-.’ ,<\/p>\n
_ a-uvI-”aann4s4n (1
\n1’1,w1 ICI. CC  13 \\’.I.I.l.a|.l.E.IuI.r Dl..l..l.\\.I. ‘I:-!..\u00a7.\\a L\ufb02ptflu I nu. 1.4.5..<\/p>\n
it x _ \ufb01isanction of the respective High Courts within whose<\/p>\n
jurisdiction the registered offices of the Transferor
\nCompanies are situate. The Transferor Companies and the<\/p>\n
Traiisferee Company are all part of the same group. A<\/p>\n
I
\n5%<\/p>\n
 .   :”lh’I”‘IA’*.|i\u00a3b llnnri
\n‘ ‘Io .’ <\/p>\n
  so stlrte riieeting. fa1hng’ ‘ him,<\/p>\n
(5_ If i 1% II  fha 1’10 intrncql-\u00abin-oi-ins-or er-n1i~.1\\r’-a.p:n:-I~1v-an-can<\/p>\n
are instituted or pending under sections   the<\/p>\n
Companies Act<\/a>. The proposed ._1ncetirigs  <\/p>\n
shareholders, secured creditors   I<\/p>\n
will be held as under:\n<\/p>\n
S1. Parti-     “Unsecured
\nNo. culars. Sharef’   :ere_=&i_tors., Creditors.<\/p>\n
1. D\ufb01” i  V””.””:l*=v ‘ _’  F””””‘<\/p>\n
2. mac  t11.4;ee 1}1[4.os 11.4.08<\/p>\n
W5′-n”‘\u00a3 2 5 PM<\/p>\n
1<\/span>
\n‘.1<\/p>\n
co<\/p>\n
‘ :-\n<\/p>\n
.Eg’
\nL ’51:.<\/p>\n
\n\ufb01uui\n'Er'\n\ufb01nd\n\n3(a)    2 secured 5 unsecured\n<\/pre>\n
 ” L.   holders. creditors. creditors.<\/p>\n
‘u-uuu.\n<\/p>\n
Opp: St. Joseph’s Pre-University
\nCollege, Residency Road,
\nBangalore-560025.\n<\/p>\n
 ‘ …n
\n61’1uu*””:.<nm oi D .""~ ' '*1 '<\/p>\n
Sri SR. Gupte, Vice-Chairman,
\nfailing him,<\/p>\n
Sri M.R. Doreswamy Iyengar, Director.<\/p>\n
_\/'P'.\/'<\/p>\n
[.1 n<\/p>\n
.|..|..L\\.- us. -543:1.-an-Au \\a\\..u.n.A.o'" I.-.44 ugsmu 'nap-Vanni  \\r.s.4II-n us…-
\n1''!' 1" J – ~. <<\/p>\n
-4
\n1:\n<\/p>\n
\u00a7\n<\/p>\n
2.
\n5<\/span>
\nn
\n:5
\nS’
\n3<\/span>
\n3<\/span>
\n3′
\nE.\n<\/p>\n
‘1’-\n<\/p>\n
rr<\/p>\n
advertisexnent in one issue of “Asian Age? ai11ciLi’Lj'”n\ufb02’T:’niinada<\/p>\n
Prabha”. Bangalore Edition. on or bei’6i\u00a7’.::19. S;2’QD8,:V ‘ The <\/p>\n
Chairmarfs report shall be iE1ec’i _A ”<\/p>\n
holding of the mec\ufb02hg’;’   to”  the<\/p>\n
          W.\n<\/p>\n
J<\/p>\n
I 1,1d’g\u00e9<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court United Spirits Limited vs Nil on 10 March, 2008 Author: Ajit J Gunjal IN THE HIGH COURT OF KARNATAKA, I-3A,I\u00a7I\u00a7I;iII\u00a7eI2E DATED THIS THE 10′”! DAY OF & BEb’\u00a3;)R”E”‘ ; I A X n TPE HQNBLE MR, JU3’FE”E_ AJfF.’J G\u00a5.l’N-.}’I’aL ‘ cm. No;IseI84 01%’ 2003 2 B EEN: _ ‘, 1 UNITED SPIRITS’ […]<\/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-263088","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nUnited Spirits Limited vs Nil on 10 March, 2008 - 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\/united-spirits-limited-vs-nil-on-10-march-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Spirits Limited vs Nil on 10 March, 2008 - 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