SUNEHARI FINANCIAL SERVICES (P.) LTD Vs. STATE

JUDGEMENT

(1.) 'M/s. Sunehari Financial Services Pvt. Ltd.' (hereinafter to be referred as the 'transferor -company') and 'M/s. Sunehari Exports Ltd.' (hereinafter to be referred as the 'transferee -company') have jointly filed this petition under Sections 391(2) and 394 of the Companies Act, 1956 seeking sanction of the proposed scheme of amalgamation for amalgamation of the transferor -company with the transferee -company.

(2.) THE proposed scheme of amalgamation has been filed along with the present petition and the same has been perused by this Court.

(3.) THE authorized share capital of the transferor -company is Rs. 2,00,00,000 divided into 20,00,000 equity shares of Rs. 10 each out of which issued, subscribed and paid -up capital of the said company is stated to be Rs. 1,96,44,600 divided into 19,64,460 equity shares of Rs. 10 each.