MICA RUSHIL PVT LTD Vs. STATE

JUDGEMENT

(1.) THESE petitions are filed under Sections 391 to 394 of the Companies Act; 1956. The Company Petition No. 196 of 2006 is filed by Mica Rushil Private Limited and Company Petition No. 197 of 2006 is filed by Rushil High Pressure Laminates Private Limited (both transferor companies) and Company Petition No.198 of 2006 is filed by Rushil Decor Private Limited (transferee company) for sanction of the scheme of amalgamation of transferor companies with the transferee company. It is submitted that all the said companies are registered in the State of Gujarat and are carrying on their businesses in the State of Gujarat.

(2.) THE petitioners have set out their objects so also the purpose of evolving the scheme. It is submitted that all the said companies are closely held private companies and are carrying on same and similar business. The registered office of all the companies are situated in the same premises and their plants are situated within the radius of about 7 kms only. It is pointed out that the scheme, if sanctioned, would result in efficient and proper management of the business of the companies. It is submitted that the petitioners have complied with the statutory provisions.

(3.) IT is submitted that as per the directions given by the Hon'ble Court by order dated 31st March, 2006 in Company Application No. 156 of 2005, the meetings of the secured and unsecured creditors and members of Mica Rushil Private Limited (transferor No.1 company) were held and all the secured and unsecured creditors and members have unanimously approved the proposed scheme of amalgamation.