1. Incorporation of Shivalik Ventures Pvt Ltd from M/s Shivalik Ventures
Partnership firm of Shivalik Ventures having two partners Rockdale Realtors
Pvt Ltd and Royal Accord Realtors Pvt Ltd having capital balance of Rs.
53,90,981.5 as on 31.03.2006.
On 26.04.2006, M/s Shivalik Ventures wrote a letter to the ROC, Mumbai
requesting to approve the proposed name of “Shivalik Ventures Private
Limited” stating justification for approval interalia
“The name “Shivalik Ventures” has been opted .. to fulfill the desire of the
promoters to retain the goodwill and brand name of their existing partnership
firm.. Shivalik Ventures.”
“It is proposed that the company on formation, shall take over the
running business of M/s Shivalik Ventures lock, stock and barrel..
facilitate the process of such takeover.”
“One hundred percent beneficial ownership of the partnership firm lies
in the hands of the two promoters of the proposed company.”
“Several agreements entered into with the societies of the occupants are
also entered into by the partnership firm of M/s Shivalik Ventures.”
On 12.06.2006 Shivalik Ventures Pvt Ltd (S1) incorporated under the
Companies Act, 1956 having CIN U 45 210 MH 2006 PTC 162567

2. Change of name to Lifestyle Realtors Private Limited within a year
22.03.2007 Shivalik Ventures Pvt Ltd passes resolution to apply for name
change to Ornate Developers Pvt Ltd or “some other name”.
Finally, the name of Shivalik Ventures Pvt Ltd was changed to Lifestyle
Realtors Private Limited vide fresh certificate of incorporation dated
17.05.2007 issued by MCA.
What was the reason for suddenly having a dislike with the name Shivalik
Ventures? – The answer lies in the contractual obligations to the various
occupants/ residents/ societies of the project. M/s Shivalik Ventures claims
that it had obtained consent letters and signed agreements with societies under
the name of M/s Shivalik Ventures. This was a means of extinguishing the
liabilities. In fact in a letter to the ROC, Lifestyle i.e. Shivalik Director wrote
that it was not interested in the name Shivalik.

3. 06.12.2007 – Shares issued in Lifestyle to non promoters
On 06.12.2007, Lifestyle issued shares to various people who were not
promoters. Rohan Mehta, Harresh Mehta, Rohan Developers Pvt Ltd etc. were
issued shares but were not the original promoters. These people were not the
original promoters. Interestingly, Lifestyle’s balance sheet which had a size of
Rs. two lakhs as at 31.03.2007 saw a meteoric rise and was Rs.
10,251,858,250.00 as on 31.03.2008 i.e. more than Rs. 1025 crores in a matter
of one year. What is the source of One thousand Crores in 2008?
4. M/s Shivalik Ventures which was already converted into a company (S1)
on 12.06.2006 was once again converted into a company by the same name on
24.03.2008
What is the legal standing of M/s Shivalik Ventures once it has been
converted into a company. The legal standing gets extinguished. However,
once again the MCA allowed an extinguished firm to be converted into a
company by the same name.