PARLE SALES SERVICES PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) THE present petition is filed seeking sanction of Scheme of Amalgamation of Parle Sales Services Private Limited with Parle Agro Private Limited.

(2.) THE petitioner Company filed Company Application No.556 of 2007 seeking dispensation of the meeting of members as well as creditors of the Company for the purpose of considering and if thought fit, approving with or without modification, the Scheme of Amalgamation proposed to be made between the petitioner Company and Parle Agro Private Limited. The consent of the members and creditors have been obtained and produced on record. This Court vide order dated 07.12.2007 dispensed with the meeting of the members as well as Creditors of the Company.

(3.) THE petitioner Company thereafter filed the present petition seeking sanction of the Scheme of Amalgamation. The Court vide order dated 11.03.2008 admitted the petition and directed issuance of notice to the Regional Director. This Court also directed publication of notice of petition in Gujarati Daily "Divya Bhaskar" and English Daily "Indian Express" both Ahmedabad Editions. Publication of advertisement of the petition in the Government Gazette was dispensed with. The Court has also ordered that the notice of hearing of the petition be served upon the Central Government as required under Section 394 -A of the Companies Act, 1956 and the notice of the petition be also served upon the Official Liquidator attached to this Court as required under the proviso to Section 394 (1) of the Act, with a direction to furnish his report, preferably on or before the date of hearing, along with the report of the Chartered Accountant appointed by him out of the panel maintained at his office, the expenses of whom were to be borne by the petitioner.