Karnataka High Court
Tyco Electronics Systems India Pvt Ltd vs Nil on 31 March, 2009
Author: H.G.Ramesh
Bench: H.G.Ramesh
#131,.
T'? THE HTGH CCIUFT I27? I§fi"RiTfiT'H.I{A" " ' KT ERR" " "("}fiL(T '-
DA'l'ED THIS 'THE 13¢ my OF' JULY ff 7] V. N
BEFDRE:
mzcxmcn mmnconxizct
5. COMPANY INC?-3RPOEA'I'E1} UNDER
CI;-M.P!t_!*IE 3 !s~_.E'f,:; kg 955 5.21;?
REGISTEREI3 xrrg PARK';
'I'k'I"\:V'l1'l| an-Inixl-I !l.f:E"l¥' 'Fia"T_Ii z-|_.ri:Ig '
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mnusuzm-aI,T%%fiRE2gg warm:-nfimkum
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H RESPOHDEHT
liar the petitioner has filed the above
.'.::::dw mmm 39}. a:-.-*! 39-! at' tlm Camp.-m.i-.5
that fin' the reasons stated therein
Hna1"I::ie Court may 'he pieaaati to sanction the
aiuhéme of amalgamation, ape-aifiad in Annaxum-A
_ " hereto. so an to be binding on the Pet:itione.-r]'I'ranaferror
~ Tmxafaree Cnmpaznr and its Bhnrelnlders and creditors
anti ertc.. M/'
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Jefl
'I"l'l' :1- 11.11'; _E£.Ir"!:.f'|d'u£
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mo ELECTRONICS svsmms nmm wt
5. com'-aru":' mains UHBER THE ~ % j. .
ccmpanmsacw, agseann Havmarrs _ T %
REGISTERED OFFICE AT L A
INDUS'l'RIAL AREA, ficmn
"m... P!-..|.?.K" 223. mDLJ£t_1*I.A.I£L1NLII 21v:L:T15H.A;i31z..% % % 2 % X T
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{.n;- 5-:.-5 l'l.l..fi......Q}¢.'§& -.r:.. 1'
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Cassia! "Inna -Frlnd fhn abvnge
petifinn u11de":'V..s_-cations 391 and 394 of the C4:>mpa11i«::a
far the reasons stated titzum-eln
may be pleased to aanctian the
R..§::h6m¢v._,4a£:'4vainahamation, specified in Anneexura-A
t;rs.,'~ '.:érsdi1':g #3: ma pe*..*1*"..'.;.-*~.....-',"1'*.-'.*.*.:~.....~*'-=-"* .........
uni czmditnra and also the
Tram" feriir 9-Sfimpargr and its aharelzlcr' " Idem and cmediizors
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"- ";':I'l1e-ale Company Petzitbns oom1ng' on for ardecm
tLxisday.tt1eoourtmadethef'oflnwi1:g:
1.
('L/' «{».~=-gma; V._ '.3.'-\» hit T'1'1me tom pa-t:i.'_t:im:na are mkam. up V' c:m:151d;era' mm and am. dhpuaad ::1fb3.a" a M uvurnan i
2. '|'1*L;;¢.'".I:n;.= cg:mma;g3r_m:+;awig:1A_gg5;?;2Qu:5
-- -In-----9|' Heciainn t" {flair mnun.
mwfi-er' was
of Iiarnabaka A
undcxr am mt, 195:3 [far
snarl: 11"..-=2 '§n.a:::"',L 1_ fl ._ _1.._._._ .1 ' oflioe: is;-. aimawci at 2:33, Irm-aaammmz, 221% Wifle field Ea-ad, ..Ba.ugaJz:re-- magma, : autxmriml smm capital at' the E is Ra.21.00.m.c:m;- {Ruiz-3&3 ' tan '1 mquit:i.r_ahmH5.a -mat" F€a.if.'3,f- ea-oh. Tn:
ufiaacrihéd an-fl pafl up sham vrsrapital of the traizafiaror ' is Ra.19,.'§I+,.fl3,25I.'.1I.f- z{Rupe:§a.' _ 5»a/ 'H?
M + .5 gf swmnggggmfiauian 'aA,é*'®}.i1:*-3.2: ?__;arc:}m}fi6¢1.£Iiiii lit.
me" tam -czmreaa four la" km" ' tm-cc' t*5muaanz1'V.-twsrama lnmdred fifty cmly] :::un5ia.t1'11g sf" l;9'E3',.4£J,325 ", V. 3%" 15: um' g lakhe. fiurfy tluoutaaatfl three. M fiat: 4:-111.5?! sqL_1jiIt.3,r of RauEf'6§3*;w;1w_, -3 an
----- ------- .Iu._ E mrfipafijf W rj-:::1m':'.-E:r1 _ pxwdmfionfl ma.-t1ufactL11~e.,. 'tsu- pafarm o1her- fL1nc.'t:uu,_ " ' ..,.13,r man: an um a1"l'.1c'Em uzuf Z» which is, ma:-as g- muggy.
I' ._._.'I...
auciiteai 2-ififi 'f"'i'\""" Ti" _ . "I'11eent:i1-eshares
of the: {masters} m'_+ In mid 1:11: hm fiaia $u£wza11~:~L.rg, h.....,.,..r?|s=- 1'. .1:
'Iran and" ' mm ' up Edna:-43' capna" 1. ' Dunc" .12:-ta at' th: t.t~amf'-nemr mmpam haw,- " H " __ s axurl adopted a. scheme urf filgamatzinn at its held «an 29.12.20-r:«5 hg..- mm mi which the u*'""-%1":3r % £5 1.m....g.....-w 9.5-...' E vflmemé. W-* Lh £1-.3 trmmtm »mmpamr_ _ "firm Eiemruraicafirsmma' mdia Whic:haln:3ngwithit13~-
h_/ Pvt. Ltd" which is aim bald by mama hcififi cnmparly. Ana an mdgqr the saéd hcznlding nnw called lzngr me name Tym E- " T: K =1...: ..... ........1:.._'.:..... 1...,::.,..... us..::.. m..;+ ;;;_;.. cm
-I-LI-til. E-all 3-F LI'l$ 55:33.'?-K'u7 'L-HIa'l3»al-.s1u B..I1'"_iK'.'Ia-e..a '' A aeelaxlg" pmmms' ion ::a1"t;ht=:<:=<::I.3;t*£;:.Vfi:-»::»u:nrI'Li-a.*c1v. .._.§_;'='a fin sharehnflans ifl 'Co.P.Hn.43,F2{'.IfiI$. 20.02.2005 ;gE1'II€EBifll1 p1.11'sua11¢::e af mud """ 1 an IEl3.E|#.2BD6 in its rzaf tlm ahareahmfiflers and aafl $15115 appmvefl the T1a.e.%:;.Im'm_nnHn. .. gr 1.-me n_...J.1'n-Dr film-I ma _- 1.-..-1.n........t, .......-.... 4 cm :32..04..2Cr£hfi aeckhnm apprmral emf e by this mun. flu .31.5.2{]|E.'flfu, thk mum mfme tn the Roagimml Dirm:-tor rzaf florwarly H. _, ...- -..--...~ ..x...
Limvirinf 2* .1 -533.
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3. "1"?r.E Rrvgjistffi rrf firr: c:r;r;*r;@"2.1':aa hz:.:s"* ET'- raport t-tgjacfing ta: wacrrfl 'aau.1::'r.;nr:i;a»:§cl5§v Tn the at-Jim cznf 'in ohjechbm, the mmpany hem 3% ....T_..._ L... -T
---'----- '." - "- 1--.' "'_"'.'Z' ti-re?-4=2.... ward. "#4" f ""vrn.?Zs .3; v.'1=I.?ii'£i'.!:--" I.1.i:I,:¢;-1:1. in 1:_1'1g .._!_'fl acrbma mi' 332 '''''''~..:% Liquidator nbjeckian fin' rem:-..1§A1¢;n,2§a. The mfififif ia lama £u.:m;,~ mg finer hearhlg. my am has- **'- Qhjmt Lce EJi:.*.e z=ir.:r-..g..i:i. _gnt h1.n-f"r;-I-'um -m# 4_'_,'u_f;,1 he ____ HI-"-'a'l.'I.l'.E.,V'u| 8-541-fI--l Illulnl-fl-T S3éa'1r~1rmf am W. Ltci... {fur ahcart hm.amm- rafzzrreari' 'I'ramfTe.-res: flfl } was u:3a%II5.r' "
can Eli-..fl-Ll'E?95 under: ma name and style D1.:.@a-can W..3.Fnwer Sgwsbam Ltd..i. in the S-tam cf mfi.-IXIL.-." T 'l1.fi.JI-I1--flifl-.5. X. J . I _ .Li:u.uu. .ll.'I wm. ii m;u..:i-.:.1.uu: -at Ia.:Ls::a.<;""'.11.a!r"-aw "" sun ' fl": F-m:._;.aT mm 31?.
n . '=m--...._u-mxn --my_.:y??.%?';.fl,,*__pR,r'w_M,:.~" - A _flié.___.£$weflF aumcflbed and paid 11? % . {:35 nun rnfllfifldflfl acumen r~'n-wtrnnl T. % six 1'tE'J.c~'uaan«i.'fi mi: 1':we:i'1ty«s:n«I1i§.r} 1,-iwirairsam equity sham amsuiv:ir-- each * up. The main aiijwi: iii' iim Trmmfmm '35 ta design, aasemlzale.-5 manL:fic1:nre., test, 4' _ :1": "T"u-rr,...u.. 'D1.-Q.-rgrl--nA.»:rh-3;-ya. Qlrgzul-.a.-I-mI1.s| J-Ifi J.J.il!=|..I..I.§.§.- Uni L: 'I.o'"uJ' 1}'J-'§-"na*la.I.".|"-§--aI.'no'¢ I-\..P.}'|W Inflia Liruitexi iiiviti-i efiect E'-mm 29.n:§:i;§atji%1;iii Bulasaquaxlfly, the aim was again changefl ' Electm-m'r.'.=a Sfmtems-India mg 3-;.i,g5iigi;ui, Haw' ii Q in shift the E«t#1ié"'nfV:'I':aimfl Nada tn the Static: nf 4' at present.
having IFB.I'k'1';. ms,
-g-F. .y..u..~ur_'-:1 -ugmauwoa. spa.-In-ta-Ll mdt__!flnlrl~ir!_z1*_§J':>23iEi."'Eg'jh¥§i§i.;fi;_ .. ;ig.ii-ii-ii A'l"'1!'£.£k '§i§'1;i1'g3;_f¥_g-.J;3_ man, ' . aufimriaefi aJI':sare capiml 'itlie; mmpami iii 13 érariiia .1' V" .u._. JV .
cnnaifstixiig Efiif Islam equity shares of 3 I' :1'!-I'a:.rI-J' I|_.I.'b.II-.l._I4'I.a-'v.I'n3 'h.nl"ba-ll--II- 'Infill-'I~l'\-Iv'luI'I-'l' .r:.I:.
an-ma'-A-:..-m-Iv -E'n.-m.-ru..rv.-I-+ .n.-urinal .A.'l"1-HQ-II LL F-31-all nuvnl-IuI~'JuW. I ux:-nu. '.u..u.""" "i;-IA1s.k..flJ'.I. 3.11 _._..A.._'-u..':_...; 4.' EUR VJ H53 'J: Jul auuuhrl .. JI-LIi"\:._K.-1.K_1fl- ..4r' .... 1 L1 5 1..u..- 1 up:
it ,4...-
h 4-: _.---E my -I-can-1.-L. J5. :. ULJ.H.- U1 mu.-t..n.t_.I'.-.__I..I association whiach wwndxuzedf as -B latest halanm =ahae:et.- upm 3.1.«:«3.2¢;r35 L .-.-.-»--r----... --_. --- _r---- -_.------_ me- g._.1an "m--.:».=_-se 9. Am ._ ._ .1 "'1.r1r\:u::1:s:u'"" rs. ccf' the Wmlw ' '.'m:«&€:: "17 f" a1 axi0P't-ad the aG3Eme_ sf»? ' T bald on 2% which the abuve afl with the court. m aubsfijmry uf Tjgmu Aaia % «Maum.-iua am the rmtim aharegaarttfie are held by the said ahrznm. 'The: aaiscl h«:sBflJflfi' ., ' lull: W LIl'ffi¥Ll .I infli- LIJ' -15.-IKIJ..i|¢I.H-I .5. I I"
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E Trawffimoa mmgamr filed an zapplicatiun bacfuras VT " smart in 'C.fii.H::.42;'E[3Dfir umi-sr Eec:.3":",1'1 3f the Act an;
E
4 .
W, ..-~M.' _ ' - . -
,_ cmmparxy. by archer :ia1:ei7 saii ' inum a::ug1Il'waa~ mamted mad V' gut-ant-ad to mmwm 1:11»;-5 #11:: V' was swim t1'1_m'. hem appmwd by the and ' ": . :11 is mi txf thfi scheme.
Home pvtititiun ta 1t.hv:: Ewe'-anal zzhmmi, wm hem am his
- the nan: af film witrrfl 'sham:
'l.IhIl. &EI.mar .51 .u.u.:. iv.-1 n -.r-u'.-'2" 'PlI"Ilfl flI'l"&$1[1'l:I'I"l'lIfl"'1.|"IP Flt': _____# % aarfi ' is Ilficzzi" ' 11:: flfiifitfl tbs said %:&*ém the scam. names have been duly '3,-§i1'*};fiI1cd abnrut the haaring -cal' ma. petitiun in tbs:
aw Karumfla Prabm. The R-eg7;m1*a1' sf mmmy 1133 $5 f§*.?.& hia awatirg *umh=t ha Ebma-=* \x_/ . -1... , , -"l"'..,..J...-n- an-a-'I.-a.»-a. LA ...-.~..u. J ' -tr-.n..-'I 131- um} 'um . 1=r..n.wa_, mum 'Eu 'n:*s£u"' as berm" , mu: 1% hnlder or IE-'.|!"6fl.'l'iT3IE!|1" csf" the: mmpawj I=.-1aeo:1 the wow-ékmen has & befccrwa V' upholditxg tha achem; azodf '_
-5. I have heard the I have germ: thmugh arxzi the Trn_._r.m=fi3_re_h7' I 2;;
incorpwataci '"*«::= cf the ahammzfldez-3 3., ' fix Matmifiua
and rmmnzitfi' 3.fi..R.L. Lumanhauxg
-II...f.|.\--anr nu. a 4. nu-u us in}. _:-'~.ai1 mu "I";[Ffaw'}13 'fi':'hns"~.i'1-"g 31:; 43% am whnsfly znwtwd subaixiiarim caf »n:=:ampamr_ . film the: mlmma 'tznairg the assets, prnpesrti-5s:_, riglhta, interamza. .a::u:1 Ishafl withuut f1.1I'flIlE!I" act «mar ciesfl-,. pursuant in Sw..39'%Ij2]1 mf flu: Act, he uriwad tam amii v'\/ M if , 3,... Egg. '1":u.u._.uu...»i'.--_.uu.n.u. .n.A.-u.~u.A.~..na.--u-r urn: -1.»-In .&.ml£hlI"' 'II 1 '§Z.w:= 11f 1:3a1:75E!:I;:= u1Ju.Iq.u111' w.L?..u. uvr:a..aI.- T1-arnfisr dam, an an 'an Rafi the assets? but auhjeacrt zwwrthglms to 5.1% 'V L& a 11' i¥i'a-2.-:.,'1;:1
-sfiuiics sf "i'raI1a.fere:3 =fl_*1-.2':
dam ashall also stand' '1é'é3r3~i;' iI1 the Tmmfmrm mmpany date witlwtat. the cfiicera tn ' of ihe
Tmmfstxegg "efi?e.t:t firuml Eh: Tramfar date: and .w't.1*-1:-.='.._ A' czf sexwaina appficahalr: tn airfL'ti""'Vem_l¢:>gg.r-e:£::a shall ricsf be has '~...E..w.'...... .-..-._.--.. .'I.$.'i'-lo' Ll'.
n -«Ii-1»-n.r_-4-Ir-u 11' binq '11-an 'I-"H'1u:.1-n 'l'Tl"'lI'I'I" ' - 2:
tan» date and? tIt1a aetrvice alsn Shall mt. be been hrcul-£6311 car fur any 'Elm mid fian shall mt meet. any mflueedmgs alruady cannxzhldafl by the % L«/
1. Ii:1IH£'£"fii"'|':'Jf -a;':1;T1"'f.':-r?u.t'§.;a ' Ia-innnmimi mufmfi mni mnfiuci u::ftr1e: mmpam.
1*. Irwiew afthe: :fb_ie::h7n11a- raiaefl tag: the 1:mm?angg;§e£ Campmfiaag bath ithfik Tranafswr am him A' 5--nrnvunlrrnr min: In-In xg:'F}I;'¥;::tJI':'J" 1-arr:-n::i:5'irsm' 111:3
1.:-Ia! a..u..I.IuIm. W In .. V at; In- J1.
ward '"'a1zt't:wa1'ia«e:a:i ahfim naprital' T.' V f where the d:a'&ui'a?m off ia prmpmamd meiw will he finr 't:u:a th thfl ::::mpm1ia:-$ it fianaiflarahle unm:.n-I-I-u.I-I!-I'-LIA.-tel. .44.-E' :51"-mvl-:vIVh<:al""---a'i.§t':.J!.-b|l. ~Vl'L-VI-'Ari -I'-' , .I'I...I..gar.{'§. .-H-..J |..1.|w|l.«W.-P.l.I. '5-El. H.'I:I.I.LEI.I..ILI.i3' -vI',?1.LlJ-1'13'. 63.-I-a1.'..-_|: 'l.:'.!J-'..3':;I.fl._1!3l.'l....I.|:.n!;I.J.¢1l. '-.:".o"'D|.'U 'Ill-LL-I. E the maxga' .m_ m in-mnefit from the am pram-fita'.
'I"1'1erIE-'B'3.rne1~g5.r in terms at' of
-,___ - ,_ ._ __ _. ....J _ ..__1 u iirar 11175. LI:.u:: mmu ILnu_ 3* Lil than mmpamaa woeuld ha harm the amalganmteui :£:.t:«m:@"a;y.. The .. ';_:,ufi§'}aA1ns:id~§a-un mi} Alan. news: be m . A-nrl ._ .,..........£,.........'..~.... .. «.............w ........- In aux. -u-|..uw--sr sr -I--4-\.n..n.-I.--5.-u-a.¢.-v .-I "
'I 91/ of hfltll Tmxiafaror and L/'»_.I'r-gy' with eEer:.:t' fium the agwl ' % smiuaing the Lumumimiua and immummea 3:33:13 afwhamuflfimr Ilature am all fieeztmea. wivnegea, claims, am. of am 'I'?11'.ar1n£e1'uI campany witmut mum act. er am he manafm-xui tar» Tim alzarulm-Idcra aruzl urmemtimzl madflmfi cf' 5 E E H E T 'C 3 E?
fii E E E 5 majnr'i'I:y. "% warlunaul have xmt npprmed * The material an re:-curd do mt diesakmg of the mmpanjr are mnciuctexcl in $1.
camparxy. at am (X2II112t'i':IJi"y'_ M the law? .__f::nr film time:
bang" w'+3:t1't3'.t1g the apgmml tsci film fizrllzmsring "i'"mu5. aaughi: fair 'um.
an as to he mam" " on . '¢."=.{-\..«|u £14.; :1. .: H .I..I..L-.-ctr-:9, l.3.En'.I-'I..- an-.4. fining-3.9 EWBWR fin 1+1-ma 1-.-gig-3+'-tuna rs aatg aria'? axadwatead in the T1-mrzafmzm mmpamr fiumuant__ tn gf 1!-1-In é",r|.'|r':vn'rII:.'In'r"I'::n% sfl ' W' I.' I I.-L-U0-I '6-nf'|J\I-LJSII'-I.l. ulfifipi If. IJLJI-h rieiarts ma 1iaEi}i'tim., 'aufiga mfl. % _ stand u-amremad an 311:1 % k mmpany fl-am the Traimfer date.v:"1«TI'}i£§a' T mmpany atanda dhmhmd a+Afafi-amaa; fig % Wm Ea film a mp3? mi' this ardar thus data- Irfi I'E=r.'JE:1'pl; nfv ' Rama-' trar Inf .1; in Farm No.42.
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