ASSOCIATED CHEMICALS AND INTERMEDIATES LTD. Vs. ABC

JUDGEMENT

(1.) All these three petitions are submitted by the petitioners for obtaining sanction of scheme of amalgamation as per Annexure C in all these petitions by virtue of the provisions contained in sections 391, 392 and 394 of the Companies Act, 1956 (for short' the Act').

(2.) The petitioners in company petitions Nos. 131 of 1994 and 132 of 1994, namely, Associated Chemicals and Intermediates Ltd. and Abir Chemicals Limited are the transferor companies, whereas the petitioner in company petition No. 151 of 1994, namely, Ankur Projects Ltd. is the transferee company. They are respectively referred to as 'the transferor companies' and 'the transferee company'. The transferor Companies are sought to be amalgamated with the transferee company.

(3.) The main objects of the transferee company are set out in detail in the memorandum of association annexed with the concerned petition. The same is the case with regard to the objects of the transferor companies. The main common objects of the three companies are to carry on the business as dealers, general order suppliers, contractors, importers, exporters, merchants, stockists, buyers, sellers, growers agents, brokers, commission agents, and dealers in cotton, jute, tea, coffee, tobacco, rubber, oil, grains, pulses, seeds, vegetable product, ghee, processed foods, cotton goods, tobacco products, textiles, garments, yarn, synthetics goods, fibrous materials, mill stores, coal, dyes chemicals, fertilisers, building materials, office appliances, domestic appliances, furniture, decorative items, gift items, steel utensils, plastic goods and rubber items, pulp, paper, engineering goods, electrical items, electronic items, steel and cast iron items and such main objects of the transferee company are wide enough to take within their sweep the transferor companies.