Adecco Peopleone India Private Limited vs Nil on 27 October, 2010

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Karnataka High Court

Adecco Peopleone India Private Limited vs Nil on 27 October, 2010

Bench: H N Nagamohan Das

IN THE HIGH COURT OF KARNATAKA AT EANCALORE DATED THIS THE 27th DAY OF OCTOBER, 2oIoNIIjiIPI% BEFORE THE HON'BLE MR. IUSTICIE H.1\I.:NI*I(}A1E(I.(§'_I}§PII\§ ADAS & ' C.A.No.873g2oiQ * T BE1W_ﬁEN:

ADECCO PEOPLEONE INDIA PRIvATE».LIEIITED' « _ REGD OFFICE : SA: DEEP $HR_1 NIDHI; N;,_2; ~ NALwE\1DTUNNEL ROAD; * t_ 1" "--

MURUGESH PALYA, BANGALORE .4

TRANSFEREE CQ1\;i}3A1_\IY    I A

. APPLICANT

(By Sri. PER1I<A:TIE:, FOR M/S ISAGAR ASSOCIATES) AND:_ I """ ..RESPONDEN'1"

'K."*'TI;iI€I.V-LA15I°1IICATIONIS FILED UNDER SECTION 391 OF THE'<-.CO_MP.AINIES ACT, I956 PRAYING FOR A DIRECTION =._TO OONVENE AND/OR DISPENSE WITH SEPARATE SNIEETINGS OF THE EQUITY SHARE HOLDERS AND

- DNSECURED CREDITORS OF THE APPLICANTWCOMPANY A FOR APPROVING SCHEME OP AMALGAMATION AND ETC. This application coming On for orders this day, the Court made the foiiowing;

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QRDER In this application, the applicant/transferee oorripazgjiiéiasi prayed for dispensation of meetings of Vspharehold'e'rs --aifrri11secured_ 1' "

creditors and fixing the date for hoIdi1ig&of2'_rne1eting creditors. ._ 1

2. The AppIiCar1t~Compa_njf -was originaliyv incorporated under the provisions of 1't1"1e--.Cornipé~f1ies:fACt's _ 1956 with the Registrar of Companies. on 24.11.1999 under the napme andfs.tyi~e. 133.. :Ni_mb1e Software Private Limited. Subsequentiyithe reg'i.ste1'_ed"'o91fﬁce of the company was shifted to ﬁrarriada an. conseuiien a ceri ca e 0 re is ra ion was '6 tk dp q tly tfit f gtt A11 appiication was made with the Central 1 _ Govei'nme:nt'v'oy the ApplicaI1t~Company for conversion from 1jP1i33ii'i~:n Limited Company into a Private Limited company and the 1 same was approved under the name Adecco Peopleone India Private Limited on 27.1.2010.

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3. The Board of Directors of the ' has approved and adopted a Scheme of:Air:a'igarnatio:nl b virtue of which the com anv knownlas Adeccol Flexioine V Workforce Solutions Private Limitelclglthe Transfelrorl Cornpany is proposed to be merged wiltE1_t,F'ie Al.ppl;icant.:'Co'Inp3ny.

4. The Chartered Accotintszriti' "03; certiﬁcate as per Annexttre'-G' haAs'jcert1:ﬁed that-therearellseven shareholders of the Applicant?Coznljanylaitdd «of them have given their no objections andllhave consented to the Scheme of Amalgamation as The App1icant--Cornpany has no secured (Zhanered Accountant as per Anne:s«:ure--K has jvcertifliled thathvtlhe Applicant-Company has 56 unsecured creditors. thecircumstances, the following order:

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ii) Applicantwcompany is permitted to hold the meeting of unsecured creditors on 01.12.2010 at 11:00 at Sai Deep Shri Nidhi No.2, NAL Wind Tunneii Murguesh Paiya, Bangalore-560 .

Chairmanship of Sri B.Sunda_r ~-- Finance: "

failing which Sri Controller failing ,which ' '-»» Finance Manager.

The chairmanshall .is§1:e ailthe 'unsecured creditors of the aippliieant' corn~panj7--mentioning, the date, time and place of .meeting.

'--:.:companjfsha1i take out notice of the 0' 'meeting; 'The Hindu' English daily and

2 Kannada..in"7§iiijaya Karnataka' kannada daily in its uBanigaior_e__edition on or before 5.11.2010. __ quorum of the meeting of the unsecured :--«.,,/.¢,,i_g:re:d'itors shali be two and they are permitted to be ' -represented by a proxy.

The chairman shali submit the report of the meeting Within 15 days of the conclusion of the meeting. ,-~.

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vi) The applicant-company is exempted fromévhidiriizag meeting in so far as it relates to share§6I<ief5..__ai3:€__ _ secured creditors.

vii) Ordered accordingh/.

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