DIRECT INTERNET LIMITED Vs. TATA COMMUNICATION LTD

JUDGEMENT

(1.) THESE are company petitions under Sections 391-394 of the Companies act, 1956 for sanctioning the composite scheme of arrangement among TATA communication Ltd. (Formerly known as Videsh Sanchar Nigam Limited) (hereinafter to be referred as the "transferor company B"); Direct Internet Limited (hereinafter to be referred as the "transferor company A") and VSNL Internet services Limited (hereinafter to be referred as the "transferee company")

(2.) THE transferor company B has its registered office in Mumbai and sanction to the proposed scheme of arrangement to the extent it provides for vesting of retail business undertaking of Tata communications Limited into VSNL internet Services Limited (transferee company) has already been granted by the high Court of judicature at Bombay vide its order dated 25. 04. 2008 passed in the co. P. No. 740/2007. This order was passed by the Bombay High Court in a petition for sanction of scheme filed by the transferor company B.

(3.) THE petitions filed before this Court are by the transferor company A and the transferee company. The registered offices of both these companies are situated at Delhi, within the jurisdiction of this Court.