IN RE: MAHAJAN INDUSTRIES PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) THIS is a first motion joint Application under sections 391 & 394 of the Companies Act, 1956, in connection with the Scheme of Arrangement for de -merger of Strategic Business Division of Mahajan Industries Private Limited (Demerged Company) into Zeel Fincap Services Private Limited (Resultant Company). A copy of the proposed Scheme of Arrangement is filed along with the Application. The registered offices of both the Demerged Company and the Resultant Company is situated within the National Capital Territory of Delhi and are within the jurisdiction of this Court.

(2.) DETAILS with regard to the date of incorporation of Demerged Company and Resultant Company, their authorized, issued, subscribed and paid up capital have been given in the Application.

(3.) LEARNED Counsel for the Applicant Companies submitted that no proceedings under sections 235 to 251 of the Companies Act, 1956 are pending against any of the Applicant Companies as on the date of the present Application.