ASHIM INVESTMENT CO. LTD. Vs. STATE

JUDGEMENT

(1.) THE present petition under Sections 391 -394 of the Companies Act, 1956 (hereinafter referred to as the 'Act') has been filed for approval and sanction of the scheme of reconstruction, arrangement and demerger between J.K. Laxmi Cement Ltd. (hereinafter referred to as the 'transferor company') and Ashim Investment Company Ltd. (hereinafter referred as the 'transferee company').

(2.) THE registered office of the transferor company is located at Basantgarh, District Sirohi, Rajasthan, and an appropriate petition has been filed in the High Court of Judicature of Rajasthan at Jodhpur.

(3.) THE transferee company has placed on record a scheme of amalgamation, the salient features of the said scheme and the circumstances necessitating the scheme have been explained in the petition.