{"id":5729,"date":"2010-02-10T00:00:00","date_gmt":"2010-02-09T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/shree-renuka-sugars-limited-vs-nil-on-10-february-2010"},"modified":"2019-03-31T22:28:35","modified_gmt":"2019-03-31T16:58:35","slug":"shree-renuka-sugars-limited-vs-nil-on-10-february-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/shree-renuka-sugars-limited-vs-nil-on-10-february-2010","title":{"rendered":"Shree Renuka Sugars Limited vs Nil on 10 February, 2010"},"content":{"rendered":"
Karnataka High Court<\/div>\n
Shree Renuka Sugars Limited vs Nil on 10 February, 2010<\/div>\n
Author: Ram Mohan Reddy<\/div>\n
IN THE HIGH COURT OF KARNATAKA AT BANGALORE\nDATED THIS THE 10\"! DAY OF FEBRUARY, \n\nBEFORE-\n\nTHE HONBLE MR.JUS'I'1CE R1!XM..M0.HKN\"%%VEi3I\u00a3)'\ufb01;V  \n\nCOMPANY APPLICATION;I'NO:I.68I OE-2b,_I'\u00bb0    '\n\nBETWEEN:\n\nSHREE RENUKA SUGAIEES IC_.II\\\/I-'i.'I'.I:3~Da_ \n\nA COMPANY INCORP0RA\"1'E\u00a3)wIUNDIER ._T'IIE\nCOMPANIES AC\", 195.~6--IriAV'INC;I\"I1'S y-\nREGISTEREIJOFEICE Afi'_:I:3C-.4VI.'O'i;_V I '\nHAVELOCK, I'aOA1)_, CANT.ONI_\\{IE.NT ' \nSELGAUNI     \"  \n\nKARNATAK?'~.{'i1'3'1E?.1A  _ I \"  \nREPRZESENTTISD I-I:EI'?CEIN' BY ITS MANAGER\nCORPORATE AEEAI 'A  \nMR. RAIVIESH  \n\n \" \" V -  APPLICANT\n\n[BY ,E'\/I._\/E3. KING 8:. .vPAI%1'lIR.II)GE. ADVS. ,)\n\n  NIE  x.7  \"    ... RESPONDENT<\/pre>\n
 ‘I_’HIS.?’~”COMPANY APPLICA’I’IOI_\\I IS EILEO UNDER
\nSECTION 391 OF’ THE) COMPANIES ACT, 1956, R\/W<\/p>\n
  OF THE COMPANIES (COURT) RULES. I959,
\n PRAYING THIS I”IO1\\I’BLE COURT FOR AN ORDER THAT
\n‘GNOME-E’I’II\\\u00a7GS BE HELD AT THE REGISTERED OFFICE<\/p>\n
 THE APPLICANT OR AT SUCH OTHER PLACE AS<\/p>\n
 ” ~-“MAY BE DETERIVIINED BY THIS \u00a5ION’BLE COURT OF<\/p>\n
I.)<\/p>\n
THE EQUITY SHAAREHOL-DERS AND (3REI’)I’fORS
\n(BOTH SECUREI.) AND UNSECURED) OF’ ‘THE
\nAPPLICANT FOR THE PURPOSE OF C?ONSIDERIN.G<\/p>\n
AND IF THOUGHT FIT. APPROVING WI.’l”_A{“:{‘__’A-
\nWITHOUT MODIFECATION. A
\nARRANGEMEZNT PROPOSED TO BE MA1;)_E”-\u00abBE?I’WEEN _ <\/p>\n
THE APPL1CA_N’1’. ITS MEM13E_R$.__AN:) ‘(;:Rf:.1)’1’If’oRs<\/p>\n
{BOTH SEZCUREZD AND UNSECLJRE1)’; 1N:Rh:1s_\u00a3rE;\u00a7:j’*QF’\u00ab
\n“_1_’HE SHCEIME OF AMALGAMA.’1’Ic>N~ ‘ or ‘G.C)DA\\’f–A\u00a5i’;1:
\nBIQFFUEL PRiVA’1’E LIMITEI) A’ND=– RA’1′,HANAPRABH.A’AV%L<\/p>\n
SUGARS LlM1″1″EI’) v~.\/rm “1’I?i\u00a5;_vAV\u00a5_’PI,lCAN*.ifVAND._;”7ETCA;’.<\/p>\n
THIS APPI.1cA’151_O:\\: (jAoM1:\u20acI.C{:0N FQAARVAVVORIDERS
\nTHIS DAY, TI-IE COUMA3{)_El:’\u00bb’IHE3–I%’QLLOW1NC}:<\/p>\n
The.  a._v_{)rA:T1p\u00e9i’_1’1y_’i::1_r::0rp()1*aied under the
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accm,1111′:s of the 2:1;:’)pli(‘212’1I n’1z1de 1.: p to 30″‘ Sept’.embe1*<\/p>\n
2009, Am1exu1’e ‘BI discrloscs its assets and iiabiiities.\n<\/p>\n
3. The Board of 1″)i1*ec~tor:-; of me appIiea11t in<\/p>\n
the meeting held on 20%” Febru2′:11*y 2009. z:1})p1*c.)ye.c1i”‘Tithe<\/p>\n
scheme of arna1ga111at’io1’1. Annexure ‘G-‘. _v;fIir:%1*<-3$;:._r1__'L'.rx3:__;_*'\u00ab _<\/p>\n
M\/s.Godavari Biofuel P1'ivate MLii11,it(';aj"n. M\/5. <\/p>\n
Ratne1p1"abha1 Su.ga1*s Linlited. i'~1;1(:(:;jr'pr:'1"ats:;z_d=. LI1'1Ci\u00a3f1t.__AI"i':;.v\u00a2<\/p>\n
Act and reg_2;ist.ered in EI"1c=:'_E~3–I.\u00a7'11e or :"\\_\/3Va11';1_1'aw\u00e9s'1:1.1_1f;1 are. 0<\/p>\n
proposed to be nu-:1"g,geg1 with t.i1e'\u00bbappIicaIi't.:\u00ab <\/p>\n
4'. 2 'It "i:;fe1eLL?(i_"i'–1"1a_\u20ac I. }'1e1'c are atppmxilnatzely<\/p>\n
34,849 \u20ac.uij1,_;i1y  as on 30*" September 2009<\/p>\n
anal-3'.:inV fhat 1*e.ga17Ci ___ __1fL:,wc p1'0durted the list; A.r1ne.xure 'LI<\/p>\n
' d1L1'}V ec:1'"ai1'i\u00ab\u20ac:\u20aciv _bV the Com mm' Secretarv. it is further
\n.  I , V<\/p>\n
S':ai'.e(1 1'1';;;i1F;_ iF'here are 12 $ec::1.11*ed creclimrs as per 1151.<\/p>\n
 An11.eX1.1'1fe 'R\/i' and there are 819 unseCure(.i c:.~redii"01*s 21.3;<\/p>\n
 910101300?" Sep11embe1' 2009 as per list: Am1ex1e.1r<3  It is<\/p>\n
1\u00a7,:.:*t11e1' stated tlml the 21;')p1iva11i. bc::in_e_;{ 21 lisled<\/p>\n
iii<\/p>\n
<:<.)mpa1"1y. I"1'1E.* B<)1'1'1}:;)ay Sf.0('k E1Ix(::t}'12;11"1;ge z':11"1(:1 the Natjonai<\/p>\n
Stock E3x<.\u00e9}1z::.1'1ggc-r 01' India 1.i11'1i1ec.i hz1ve exa'en'd\u00a2'd_ "=i_n<\/p>\n
wriI.i1'1g\u00a7, 21 'No ()'ojc1'1' in the n1aI\"r'@1'  ()'I_,)7iv.\"('il;\"l\"'1~i1_':i\"2\",1.',--, '<\/p>\n
sa.1'1c:1'.i011 of the sc\"hc==:me from the Cm;:1'.l_A. 5<\/p>\n
55. Having rcgarci 10 '*..H(r._1m;1i.\u00e91>i._aI <)A1"1'V1'\u00e9't'--:%fd\u20acr1<;<\/p>\n
   R  0<\/p>\n
1. \"E7.h\"e 7:+3:,1_3p}ig:t'e1t_1.i* i':a___}Er:i1\u00a7nitl.eci to ('.()E'1VC11t' and
\n. I\"x1k'31.*(1.01_}jic1'0 1'1\u00ab:.\u00a7('*-'-i',V_i_1';g;\u00a7s' of its equity slaarc1'm1de1's.
\n'- (?1'e.'.riViiic0.\\A:_1'3.0\"!f\u00a7(5'i.~l'1.-'se(ture(;1 anti u1'1se(_'.L11'e(i on
\n2*--..M0i'1Ci\u00e91)\/'L._1'1'1g\u00a7'..'0'29'-ii M2m'::}'1 2010 at 9.00 21,111.:<\/p>\n
12.A00V1'1.0('.)::'1_ 211151 2.00 p.m.. 1*esp<--:<;tiively at its<\/p>\n
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---j\"ai1V.iIi1_'1g him. }\\\/Ir.1.).\\s'.1_\\,rc>1'. (,?rm)a:'1_\\,-=* S@c\":*ct:.ary<\/p>\n
iii<\/p>\n
or .|.'ai1i1'1g him, Mrs.  \u00a7\\\/Ii.t1'kumbi. Execrtttive
\nChail\"})(?1'S()1'1 of the Bo2;1rc1 of I')i1'en*t'()1's.<\/p>\n
QllOl'l.!IT1 for the 111E.'(','[i1'1_g of equity<\/p>\n
s1'1a.1'eh_oide1's shall be 25% of t'ota1 4xi;iii~:,;\u20ac..V_(3f'<\/p>\n
s}1arc1'1(>1di1'1g_\u00a7. Vote by proxy is ptij'.-'tV__11.i.'['i\"['g\"V'..(3\"'.-.   _<\/p>\n
Quorum for the rneet'iV1o1,_g{boi\" Sf?-'(\u00a7i:iI'i3-id\" ,c:V1*{-.*.ci':'ito1t_s <\/p>\n
S1131} be two. vote by:\";.31'(i}{\u00a7,\u00bbA. p:~:1'rn_i'tit\u00e9dI~--..\u00a2 <\/p>\n
Quorum for  tne\u00e9t-iijig. oi.' =il_i'1\u00ab1s;~?<::c*-1;i1'c~:d--.i<\/p>\n
credit,ors shall! be :A';1_'.':'_')%._V of  :i\u00a71s3ec:11red<\/p>\n
credito3"s. Vote by  p'e1'mit:t.ed.\n<\/p>\n
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~ ri()t'ip.'c~:$f_i'~s:t1c':1o'$.ii::g the copy of the scalieme of
\n'\"at_1V12i:1. ;_5,1\u00a7'1I'11.'E,11\"i'(.\").1'1. the exp1anat'o1y st.a.t.eme11.t_<\/p>\n
 ..g111c:1 f\"ofii1\u00ab(_)i' proxy 21$ requi1'<3d under Section<\/p>\n
"  to the equity $harehoIde1'$. secured<\/p>\n
* . VA j!orc('1it(_)1's<\/p>\n
Eiilld [.111-S('.('.L1I'(;'.(..i creclitors.<\/p>\n
i1'1t.imat'.ing the ciatte, time aim place of<\/p>\n
n'1eeting1_.\n<\/p>\n
bi<\/p>\n
(3<\/p>\n
6. Th(' 21;)p1i(*a1'1I (\"0mp211}y  di1'tT(?It.'d to ctause
\nl'1{j)Ii('.L'. of 1111:' mcc1i1'1;.1' in \"'I'E'1c I~ii11('h.:\" and in
\n\"Ka1ma<;Ia Prabha". on or 'oefoz-e ()3-032010.<\/p>\n
7, \ufb01at' Chairmem shail me his rep()r1
\ndays from the date of111ee1i1T1g. ' L. .\n<\/p>\n
Appiic:at.in  orde1'ed_ _a.c.~.(:;_)41fdirig'I.\u00a5;'!--::'fl.
\n  %::fi;1*>GE;%<\/p>\n
BN8\/ca.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court Shree Renuka Sugars Limited vs Nil on 10 February, 2010 Author: Ram Mohan Reddy IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 10″! DAY OF FEBRUARY, BEFORE- THE HONBLE MR.JUS’I’1CE R1!XM..M0.HKN”%%VEi3I\u00a3)’\ufb01;V COMPANY APPLICATION;I’NO:I.68I OE-2b,_I’\u00bb0 ‘ BETWEEN: SHREE RENUKA SUGAIEES IC_.II\\\/I-‘i.’I’.I:3~Da_ A COMPANY INCORP0RA”1’E\u00a3)wIUNDIER ._T’IIE COMPANIES AC”, 195.~6–IriAV’INC;I”I1’S y- REGISTEREIJOFEICE […]<\/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-5729","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nShree Renuka Sugars Limited vs Nil on 10 February, 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\/shree-renuka-sugars-limited-vs-nil-on-10-february-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shree Renuka Sugars Limited vs Nil on 10 February, 2010 - 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