ZUARI INDUSTRIES LIMITED Vs. STATE

JUDGEMENT

(1.) These company petitions invoke the jurisdiction of this Court under Sections 391, 394 and 395 of the Companies Act, 1956.

(2.) The petitioner seeks sanction to the scheme of Arrangement and Demerger hereinafter referred to as the "Scheme" between Zuari Industries Limited (Transferor) and Zuari Holdings Limited (Transferee) and their respective shareholders and creditors. The sanction is sought from the appointed date that is 1st July 2011.

(3.) The Petitioner Zuari Industries Ltd. was incorporated as Zuari Agro Chemicals Limited on 12/5/1967. The change of name was effected on 12/2/1998. The petitioner s name Zuari Industries Ltd. has originated since then.