B P L LIMITED Vs. M SHASHIKUMAR

JUDGEMENT

(1.) THESE two writ petitions are directed against the award dated 8-9-2006 in i. D. Nos. 130 to 166/2005 passed by the II additional Labour Court, Bangalore.

(2.) PETITIONER in W. P. No. 4162/2007 is by the Management, party No. 2 (a) before the labour Court. Petitioner in W. P. No. 4163/2007 is another Management party No. 2 (b)before the Labour Court. Petitioners will be referred to as BPL and Sanyo BPL for convenience.

(3.) BPL is the company incorporated under the provisions of the Companies Act, 1956 and was engaged in manufacturing of colour t. V. It had made an application before the kerala High Court under Sections 351 to 354 of the Companies Act, inter alia seeking arrangement for restructuring of the company in Application No. 84/2004. The Company court allowed the said application by permitting the BPL to restructure its arrangement and in this regard the Kerala High Court by order dated 23-8-2005 approved a Scheme. In terms of the Scheme, BPL made negotiations with sanyo BPL for transfer of the assets of the company. Accordingly transfer was effected on 15-12-2005 under Business Transfer Agreement produced at Annexure B in W. P. No. 4163/2007.