ASIAN INVESTMENTS LIMITED Vs. STATE

JUDGEMENT

(1.) THESE petitions were filed by the transferors and transferee -companies to sanction a scheme of amalgamation whereby the petitioner -company in Company petitions Nos. 50, 51 and 53 of 1991 (hereinafter called 'transferor -companies'), would get merged with the petitioner -company in Company Petition No. 52 of 1991, the transferee -company.

(2.) ASIAN Investments (petitioner in C.P. No. 50 of 1991) was registered as a limited company on August 20, 1981. It carries on a business in investments and leasing. This company is the holding company of the transferee -company (Petitioner in C.P. No. 52 of 1991.)

(3.) THE salient features of the scheme of amalgamation of the three transferor -companies and the transferee -company have been fully set out in paragraph 10 of the respective petitions.