INNOVATHERM GMBH Vs. SESA GOA LIMITED

JUDGEMENT

(1.) The appellant is challenging the judgment and order passed by learned Single Judge dated 22/11/2012 in Company Application Nos.78 and 79 of 2012. By the said judgment and order, learned Single Judge was pleased to dismiss the Company Applications filed by the appellant by holding that the appellant Company had no locus to be heard in the Company Petition filed by the respondent under Section 391 of the Companies Act, 1956.

(2.) Brief facts which are necessary for the purpose of deciding this appeal are as under :

(3.) The appellants herein/ the original applicants are unsecured creditors of VAL, the demerged Company. They filed an application challenging the scheme of amalgamation on various grounds and more particularly on the ground that if the scheme is sanctioned, it would have adverse civil consequences and it would adversely affect their interest.