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5. The petitioner made an application under Section 391 of the Companies Act in Company Application No. 58/2003 seeking permission of the court to convene a meeting of shareholders, secured creditors and unsecured creditors to consider and if thought fit to approve the scheme of arrangement and amalgamation. This Court by order dated 23rd January, 2003 permitted the meeting and directed the petitioner to hold meeting on 17th March, 2003 with usual directions. Accordingly, notices of the meeting together with the copy of the scheme, explanatory statement under Section 393 of the Companies Act, proxy form and attendance slip were served individually on all the equity shareholders, secured creditors and unsecured creditors of the petitioner-company. Notice of the meeting was also advertised in the New Indian Express, Bangalore, and Vijaya Karnataka, Bangalore, on 8th and 9th February, 2003 respectively. Accordingly, the meeting was convened by the Chairman on 17th March, 2003. On that day at the meeting, Karnataka State Industrial Investment and Development Corporation Limited which holds 26% of the shares in the petitioner-company and which is also secured creditor and unsecured creditor of the petitioner, and Mysore Sales International Limited, a wholly-owned subsidiary of KSIIDC, which holds 0.57% of the equity shares of the petitioner- company, and the Director of Industries who is also a secured creditor submitted letters to the Chairman of the meetings informing that they have sought approval of the State Government for the scheme which was awaited. Therefore, they sought for adjournment of the meeting. Accordingly, meeting was adjourned to 3rd April, 2003. Even on the date of adjourned meeting the said shareholders and secured creditors renewed their request for one more adjournment which was also granted and the meeting was adjourned to 15th April, 2003. In the meanwhile, a typographical error in paragraph 4.19 of the scheme was sought to be corrected and it was accordingly corrected. In the meeting held on 15th April, 2003, 962 equity shareholders representing 21572348 equity shares of the face value of Rs. 10 each voted in favour of the resolution; 20 equity shareholders representing 1150 equity shares of the face value of Rs. 10 each voted against the resolution; the ballots of 14 equity shareholders representing 580 equity shares of the face value of Rs. 10 each were declared invalid. Accordingly, the Chairman declared that the scheme was approved by requisite majority. Similarly, 16 secured creditors representing Rs. 20768.82 lakhs in value voted in favour of the resolution and 1 secured creditors representing Rs. 579.96 in value voted against the resolution. Accordingly, the Chairman declared the scheme as approved by requisite majority. In so far as the meeting of the unsecured creditors is concerned, 1837 unsecured creditors representing Rs. 11278.67 lakhs in value of the unsecured debt voted in favour of the resolution; none voted against the resolution. Therefore, the Chairman declared the scheme as approved by requisite majority. It is thereafter the Chairman of the meeting has submitted his report reporting to the court that the equity shareholders, secured creditors and unsecured creditors have duly approved the scheme in accordance with the provisions of Section 391(2) of the Companies Act, 1956.