PARTEEK FINANCE AND INVESTMENT COMPANY LIMITED Vs. STATE

JUDGEMENT

(1.) THIS second motion petition has been filed under sections 391 and 394 of the Companies Act, 1956 ("Act") seeking sanction of the Scheme of Amalgamation ("Scheme") of Parteek Finance and Investment Company Limited (hereinafter referred to as Transferor Company/Petitioner Company) with PI Industries Limited (hereinafter referred to as the Transferee Company/Non -Petitioner Company) and their respective shareholders and creditors. A copy of the Scheme has been enclosed with the Petition.

(2.) THE registered office of the Transferor Company/ Petitioner Company is situated at New Delhi, within the jurisdiction of this Hon'ble Court. However, registered office of the Transferee Company is situated at Udaipur, Rajasthan, outside the jurisdiction of this Hon'ble Court. It has been stated a separate petition has been filed before the High Court of Rajasthan, Jodhpur by the Transferee Company in this regard.

(3.) DETAILS with regard to the date of incorporation of the Petitioner Company, their authorized, issued, subscribed and paid up capital have been given in the Petition.