IN RE Vs. IN THE MATTER OF SCHEME OF AMALGAMATION OF CANERE ACTIVES & FINE CHEMICALS PRIVATE LIMITED WITH NICHOLAS PIRAMAL INDIA LIMITED UNDER SECTIONS 391 TO 394 OF COMPANIES ACT, 1956 CANERE ACTIVES & FINE CHEMICALS PVT LTD

JUDGEMENT

(1.) The present company petition is under section 391 of the Companies Act, 1956 (for short "companies Act") read with Rules 67 to 89 of the Company (Court) Rules, 1956 (for short "rules") for sanction of the scheme of Amalgamation (for short "scheme") for merger of Canere Actives and fine Chemicals Private Limited (for short "transferror company" or "canere") with the Nicholas Piramal India Limited (for short "transferee company" or "npil") and all the members and creditors of NPIL. The petitioner-company's registered office is situated at 405-408, Navbharat Estate, Zakaria Bunder road, Sewree, Mumbai, State of Maharashtra. The registered office of NPIL is situated at 100. Centre Point, Dr. Ambedkar Road, Parel, Mumbai, State of maharashtra.

(2.) The authorised, issued, subscribed and paid-up share capital of the petitioner-company is as under : authorised Capital Rs. (in lacs) 1,00,00,000 Equity Shares of Rs. 10 each 1000. 00 70,00,000 Preference Shares of Rs. 10 each 700. 00 issued Subscribed and Paid Up 1,00,00,000 Equity Shares of Rs. 10 each fully paid up. 1000. 00

(3.) The latest audited accounts and balance sheet of the petitioner-company for the year ended 31st December, 2003, is part of the record.