Adecco Flexione Workforce Solutions ... vs Nil on 27 October, 2010

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Karnataka High Court

Adecco Flexione Workforce Solutions ... vs Nil on 27 October, 2010

Bench: H N Nagamohan Das

IN THE HIGH COURT OF KARNATAKA AT BANGALORE
DATED THIS THE 27% DAY OF OCTOBER, 

BEFORE

THE HON'BLE MR. JUSTICE HNI NAD?ASF%SI

C.A.NQ..872w/_2 0--1'   I

BEI W EEN:

ADECCO FLEXIONE WORI{EORCE.iSOLII*rIOI$IS 
PRIVATE LIMITED   _  A  '    "
REGD.OFFICE_; SfA,I:[ 'DEEI?SHR1'S.NIDH*I'If£fQ.v2, 

NAL   ROADv,.:I\ItIRIIGESH
PALYA, BANGAIIOR'E_-- SSII-o_I_ 7, _--
TRANSEEROR'COMPAI~:Y_"-P.__n "  ..APPLICANT

(By SRPERIIIAL  ADv_, FOR M/S
_,:'SAGAR ASS.T_S;)

     _RESPONDENT

 fI?IIIS APPLICATION IS FILED UNDER SECTION 391 OF

 _   THE COMPANIES ACT, 1956 PRAYING TO FOR CONVENING

 AND/OR DISPENSING WITH SEPARATE MEETINGS OF THE

.  I  EQHITY SHAREHOLDERS AND UNSECURED CREDITORS OF
  THE APPLICANT COMPANY AND ETC.

0""



This application coming on for orders this day, the court
made the following;

ORDER

In this application, the applicant/transfercyfco:np'any:has'a prayed for dispensation of meetings-'of s'harei1olders*a_i:d selcured creditors and fixing the date for holdiingllof meetbiI'iglA'o'f 'unsecutredp creditors.

2. The Applicant+_Complany _m:r_as.iiorilg'inally incorporated under the p1:'oi}i1sions Compa'1:ies.l:lAct, 1956 with the Registrar of on 28.3.2002 under the name and stylellas._l?iexioneT2Vorlsiforce Consulting Private Limited. An l1plpl'i~ca_t.i.soI1.. was with the Central Government by the "Applli::a'1:t¥CVompany for conversion from Public Limited Company into a Private Limited company and the same was napDrove'd under the name Adecco Flexione Workforce Private J. lllﬁolltitions Limited on 23.12.2009.

0"[_,\,__

3. The Board of Directors of the Applicant--Company has approved and adopted a Scheme of Amalgamation on-39.2010 by virtue of which the company known as Ade.c.c.o_; Workforce Solutions Private Limited, the App]ic'ant/'Ilrar1sferer.o Company is proposed to be merged syith_"P-eo'plieor1e&}India Private Lirnited-- the Transferee__C'orr1pany. V .

4. The Chartered" Ac_cVotivntarit_ certificate as per Annexure--G «c_e'rtiﬁed seven shareholders of the Appliﬁa'm;.Coinparj:'Vy.p:ilandhiall of them have given their no objections and 'haV€i--.conse'ntled to the Scheme of Amalgamation as perdii'Aif1snex2ire--Hiii"""The Applicant~CoII1pany has no secured I lcr_editor'."~s.sTlie.'-Chartered Accountant as per Annexure-K has certified' tiiati the Applicant--Co1npany has 69 unsecured creditors. V. 'Inethe clircurnstances, the following order:

d_'...='\ \ Applicantmcompany is permitted to hold the meeting of unsecured creditors on 01.12.2010 at 12:00PM at Sai Deep shn Nidhi No.2, NA}; Wind Tur1nel..'Ito_ad, Murguesh Palya, Bangalore--560 Chairmanship of Sri B.Sundar _-" Financert failing which Sri j.

Controller failing _'whic'hhlSri Finance Manager. "

The chairnmn shawltliiissuie notice to all"th'e unsecured creditors of 'the'appvlicant_company mentioning, the date,' time :aridV'pla;ce_iofl:thVe meeting. ' '- a. ﬁfhe shall take out notice of the i' i_ in 'The Hindu' English daily and [111 Kanriajla iri..'i'Vijaya Karnataka' kannada daily in its Bairgalore edition on or before 5.11.2010. .l"TVhe quorum of the meeting of the unsecured iQ~i'l"e*ditors shall be two and they are permitted to be 3 represented by a proxy.

The chairman shall submit the report of the meeting Within 15 days of the conclusion of the meeting. if\--

,j V?\''' K('\\

vi) The appiicant-company is exempted from ho£di1;gee 'e..

meeting in so far as it reiates to shareho1ciers~~-3.t3;d.e' secured creditors.

vii) Ordered accordingly.

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