JAYPEE GREENS LTD Vs. STATE

JUDGEMENT

(1.) The company petition seeks to confirm the scheme of amalgamation, under Rule 79 of the Companies (Court) Rules, 1959, of Jaypee Greens Limited, the transferor company with Jaiprakash Associates Limited, the transferee company. The full description of the companies is given in the array of parties.

(2.) A company application No. 10 of 2006 was filed on April 19, 2006, pro- posing a scheme of amalgamation annexing therewith the board resolutions of both the companies. By order dated April 19, 2006, the transferee company was directed to convene separate meetings of equity shareholders and creditors, and the transferor company to convene the meeting of its creditors to consider the proposed scheme of amalgamation. By the same order dated April 19, 2006, the meetings of the preference and equity shareholders of the transferor company were dispensed with on its application annexing therewith the affidavits of consent of each of the shareholders of the company to the proposed scheme.

(3.) An application filed by a person claiming to be the workman on May 24, 2006, was rejected on May 26, 2006.