USHA INTERNATIONAL LTD Vs. STATE

JUDGEMENT

(1.) THIS is an application under Section 391 (1) read with Sections 393 and 394 of the Companies Act, 1956 (hereinafter referred to as the Act) by applicant Usha international Ltd. (Transferor Company no. 1) seeking directions from the Court for convening, holding and conducting separate meetings of the shareholders, secured and unsecured creditors, which are statutorily required for sanctioning the scheme of amalgamation of applicant Usha International Ltd. (Transferor company no. 1) and Shriram Fuel Injection Industries Ltd. (Transferor company no. 2) with The Jay Engineering Works Ltd. (Transferee company ).

(2.) THE registered office of the applicant/transferor company no. 1, Transferor company no. 2 and the Transferee company are situated at 19, Kasturba Gandhi marg, New Delhi 110001, that is, within the jurisdiction of this Court.

(3.) THE Board of Directors of the two Transferor companies and the Transferee company have passed separate resolutions approving the scheme of amalgamation of the two Transferor companies with the Transferee company on 22nd December, 2007, copies of which have been filed on record.