IN RE: SUBHIKSHA TRADING SERVICES LIMITED REP. BY ITS DIRECTOR R. SUBRAMANIAN; BLUE GREEN CONSTRUCTIONS AND INVESTMENTS LIMITED REP. BY ITS DIRECTOR R. SUBRAMANIAN Vs. STATE

JUDGEMENT

(1.) These petitions are by the transferor and the transferee companies, filed under Sections 391 and 394 of the Companies Act, 1956, praying for sanctioning a Scheme of Amalgamation, with effect from 30.6.2008, so as to be binding on all the shareholders and creditors of both the companies and for the dissolution of the transferor company without being wound up.

(2.) I have heard Mr. R. Murari, learned Counsel appearing for the petitioners, Mr. Vikram Trivedi and Mr. P.H. Arvind Pandian, learned Counsel appearing for the shareholders-objectors and M/s. A.L. Somayaji, learned Senior Counsel, Karthik H. Seshadri, Rahul Balaji, N.V. Srinivasan, S. Vasudevan, P.R. Raman, S. Raghunathan, P. Meghna Nair, P. Vinod Kumar, A.K. Mylsamy and T.K. Baskar, learned Counsel appearing for the creditors-objectors, Mr. M. Devendran, learned Senior Panel Counsel for the Central Government and Mr. Jayakumar, learned Deputy Official Liquidator.

(3.) M/s. Subhiksha Trading Services Ltd., the petitioner in C.P. No. 239 of 2008 is the transferor and M/s. Blue Green Constructions and Investments Ltd., the petitioner in C.P. No. 240 of 2008 is the transferee.