Catapult Communications Bangalore ... vs Ixia Technologies Private Limited., on 23 June, 2011

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Karnataka High Court

Catapult Communications Bangalore ... vs Ixia Technologies Private Limited., on 23 June, 2011

Author: B.Manohar

Bench: B.Manohar

R/W. Rules 87 3: 639 ef the Companies .§CQu.';§;]   '

praying that far the reasons stated  

Court may be pieased for an order f0f"e011veniVegAavrﬁeetiﬁg 

of the equity shareholders and 'eeo:f1'vening*  ef the V

se<:ures:1/ ur1seeureC1 crediiefs 0fa'Ehe'Vs_:a b'p1_ieantt 'eamiiany, for
the purpese sf censiderii:g--ae§  fit. approving
with or \Vi'[hOt.':T,   Scheme of
Amalgamation,  er" proposed to be
made xvhereiiiacéee  V.-Company/Transferor
Company.» ~   3f:§%S  afeA'FA1111I:i* COMMUNICATIONS
BANCEALCWREI   Proposes to merge with
IXIA Teehﬁoleégies' 'Li%ﬁEfed., the Transferee Company
and etc, ..  'V H A V' .

 1:is Z \3:sjé>i«i.ea'Eion is Coming on for Orders this day, the

Co.1i1'i:~ ti:e"e~f:)il0\adng:

GRDER

A     application is filed under Section 391 and 1394 sf

  'ihe.ECompam'.es Act; 1958 seeking for appreval of Scheme sf

"ﬁsmalganzatien of the app1i<:ani:»C0mpa:1y with IXIA

Teeheeiegies Private L§mz;ted~:he Transferee Ce«mpany,



Cu)

2. The :3.pp1ic2mt is the Transferor 

incerporated on 28?" June 2006 under the provigiionéj ~

Companiés Act in the State of K.:1:*:";3:ak.$H :;é" --VICéia§§;3;x1i._V  V

Communications Bangaiore Private Limiféd'.

3. The registered suffice is Situ$ﬁ:'é'§:i  N<§;'1§§ 2951 Floor,
Vittal Mallya Road, Barig§I0rAe-"_V_L1 Ti1e.. M~em0randum and

Articles of Associatiim is pI'G€;1.L:1'C€V€iat }\h11é:>:§;fewB.

-4. Authorisfgﬁl  Tjrarisferor Company is
Rs.5,O0,Oji)VO'}¥"{R:;pc§é'§é fi§e§V::1'ak1i§'Véitﬁy) divided into 50,000

equity shafas of Rs,v.w €2;§§i2., 

  I'$s3ué3'"c1. '":s.jubs;:fiEé€V1 and paid up share Capital of

 is Rs.11,00.,(}O0/'~ (Rupees one lakh

Z  r:I11y)A 'd_ivi:§Ia%:i.VLA§~:ﬁ1?;0 10,000 equity shares of R319/* each

' é " 'T 1  ' :"z.V1:iij§g paici  



6. The main object of the Transferor Company as 

Memorandum of Association is as foilews:

(a) To Carry on the bueinesfs'bf'-prg{_{idi.1f1§'~§:;*e~a_a.1e's.,

support, marketing? other ase5si;é§_@_i'1ee and _f;3oa't:?s:--aI:e.s:

support connected with a:dxr.ance"Ci,_sVef'tw:sie'eebavaeritevet 

systems and integrated ef teet§'1:g"ap§'p1i eati0n for

the telecommunieawfiana isielijsafi 3;" ~ . ._

(13) Providing insta.Uati,01';s:_a3i'd"~f:'aining services
relating Ste' '1;__'..'haiidvgare  Aaﬁd./' software for
te1ee0miff1u§f1i.catifQ1:S'-,j-._ _ an_Q.4_/   ' ether informatien

teehna}Q@z_Vij1:i§§i1.1ct:§. 

(C)  entities wishing to enter
or eyuipafndv V'   teieeommunications and/ or
,é:;§5§'f<'jr1:r1atiei*1'AJﬁeehniology markets and assisting them
  market research, preduet testing,

  and other related activities.

"((1)  'P:::3vidir1g$ scripting, programming, consulting
[anci,,.'Ot:her services reiated to telecemmaunieatiens

 ' .  and/ or other information teehnelegy pmduetsi

/£7"/W



V' 5

?. The aeeounte of the Transfers§i:mCe:11}3'anj; 

audited Qf 313: March 2010. _The e1.1je£ ited  

with regard fe profit and 10ss"V'aeR€:e1;nte  at
Anne>:ure~D. V

8. The Transferer  issued 1101'
agreed to issue  E[fi';eeqgplicant-Company
has  V'

9. T the Transferor Company in

its meeting   ""2Q..i?%""'-éeiatember 2010 unanimously

'_,passee§,._§  'Van reé.'e1.;i:fior1: approving the Scheme 0f



  10.  Tre:i';efefee Cempany namely IXIA Teehnoiogiee

 e'--«.»_.44Pr_ifv*ate Igiirgited was incorporated at Koikata en 20"?

  2€}C!§ having its registered offiee at 8"": F1001:

/,§jW



-.x

and firms and :9 ac: as sefiware agents far the_.§_;:iﬁ3:2i'a:%::_i;12V_fM_

marketing? advertisement, salsa. eV':gV.»g sf if 

st:3fi\:%s'a1*€, hardware etc requireei for "1:h€;'pu'rp§se~.1i1€%:§iis:x:1%:§';

in the main object (if the czj%:§';3awI:y 'a:§{.1.  Such 

means of making knavm '_$Ei1'}d a¢1.1$§'1**£%isi:;g £1316' blgsgfiess 3116
products 0f the C0mpany"'aS {may %;%'};}i§€:éxi€nt."

14». The agg;;;*£:'¥g;;:f{E§».V~ -i:f,s's€Ls;__ ~:>_f '--Tf$;ns;fer0r Company and
TI"8.I"1Sf€Y€€"    sufficient to meet all
their 1iabi1i_tié$   will not adversely effect

the rights 0f'a;r1§r'0f :thé':.:1}e§§it0rs of the Transferor Company

'VVozjthe-§ :i'r;;r;sferee V (:':::rs;zp'any in any manner. Clause 17' of

Bss*£§e:::<:§_1'zuri{i.1;i1:i."M' .g:r'f-Asscciation of the app1i<:an%:~Company

  prcvicies £9. 'eiiiér into a partnership, joint venture 3:' any

 '~e._f:3':her aiiéigzgement fer pursuing the activities 9f the

  C'%§:;1§_§:1y and to axnaigamate with any eihsr Companies

  er baéies of {lerpserate Gr Cempaniss, having Gbjacig

 " ~ «éimiiar £3 this C«:>§:n;:ra::§;.



15. As per the certificate issued by  

Accountant evf R.S.Ray and Ass0ci;é{fes;« fihe .;C(§:b.pe.13§;%.' 

finaneialky viabie. Further the vé:m:a£game;:§Qf:'v 'Qf 

companies will be helpful to (:(:vI:i'::-*..:oV"1'ir:1a1:e the  The V

advantages of ama1g:a'h:ati0_ﬁ' "of 1' 1:"W._Q edfhpenies ie
mentioned in paragraph 12'7e_f fi.he:'ap~pV1ie3fien which reads

as under:  é       

V21}-   'is_Vb»eing proposed to
am:aJg3,111éﬁteV.etheu'fi--ah'ss.ferQr Company with the
Tranéfefee  the purpose of
efficieney  and;. e'e_ofI:3fn:iea1 management and
__anda"1*u.1f1:)ing of the businesses of the

A * gs eeneerneci and for the
 eonvenierxee gained bé
 advantages of economies ef scale
anr1}'e1* mederni:»:at;§er: and expansion of the

A ' undertaking eeneerned.

:2} The instemi scheme will enabie the

eeiabliehment ef iarger eeefzpeny "\3V§{h iarger

Ki!"



company and will enable the 211nalga_::latl'e§j~' :"
company it; participate mereimeffeett:*ai1y--:i:a:i<;l: 
profitably in a eetnpetitixée  
amalgamated company  beV4'i.11:'a. p0sl£_i~é)f1'v to n 
generate additional  egiparlci  

Capital intensive prejeets.  

V} This sclj1V_etr1eV  aid the

amalgamafeed V1'e0II:1_pa:1;;%.'s ~,alii_ll_ity Vie previele

enhanced  infotr1a_atlC»n technology
enabllesd'  a»:i'd:.ele\'el:epVsuperior software

by :;f)ptin:ii}1':f..s;Vtltllizatletl of "resources and assets

of tlie 'said  combined knowledge
base  V stiaffv u0f..'~~h'the said companies and
v.»e§l7fee'tix,zelj,;'  "ine_1_fea..se the productivity and

.,  the amalgamated company and
 beneficial results for both the
'A  concerned, their shareholders

e:;i1;:il-zjytees, creditors and all concerned.

  '*'l"l1e applicant has filed a meme mentioning the list ef

':'_4:"sl1arehe§de;"s of the appliear1t~Cempany, As an tetiay, the

 Cemeany Clees not have secured or urzseeureel ereéitsrsl

aw,



The shareholders of the Company have given Consent for

amalgamation. The records clearly diSe1ose.. _:'~.'_t }i:.i._at

amalgamation is heipful to Consolidate tlzeir .

Accordingly, I pass the follawingz   
ORDER,  A 5'

1.

The application is a110weei.~£.,,V_ 2' Convening of theA.__ "'mee.§fir;e.g ' -Q_f._ $harehe1€A1ers and creditors of the app1j.e.¢ﬁ1t.~CvQr.:,1p;iI3§'7V 'iiéjeispensed with.

3. The file a petition Within a per}i'<jd"o'fe. the"':ia'te of receipt of a copy of thiszoréier; . V I 5% eeeee § ;

237$ we 31:3} e 'mpk/¥%** .

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Karnataka High Court

Catapult Communications Bangalore ... vs Ixia Technologies Private Limited., on 23 June, 2011

Author: B.Manohar

Bench: B.Manohar