ALEMBIC LIMITED Vs. DIPAKKUMAR J SHAH

JUDGEMENT

(1.) This is a petition filed by Alembic Ltd., a Company registered under the Indian Companies Act, 1882 having its Registered Office in Vadodara for obtaining sanction of this Court to the Scheme of Demerger and Transfer of Bulk Drugs Manufacturing Unit of Darshak Ltd. with the petitioner Company under S.391 to 394 of the Companies Act, 1956 (`the Act' for brevity).

(2.) 0 Background facts and justification for the proposed Demerger/Merger offered by the petitioner.

(3.) The petitioner Company was incorporated in the year 1907 in the name of Alembic Chemical Works Company Ltd. and the name was changed to Alembic Ltd. on 31.5.1999. As on 31.12.2000, the petitioner Company had fully paid up equity shares to the extent of Rs.7.21 Crores (rounded off). The main object of the Company is to carry on business as manufacturers of bulk drugs, pharmaceuticals, chemicals, fine chemicals and other products.