COMPANIES ACT, 1956, PETITION UNDER SECTIONS 391 TO 394, STATE AND DE BEERS INDIA MINERALS PVT LTD, COMPANIES ACT, 1956 AND PETITION UNDER SECTIONS 391 TO 394 OF COMPANIES ACT, 1956, STATE AND DE BEERS INDIA MINERALS PVT LTD Vs. STATE IN MATTER OF SCHEME OF AMALGAMATION BETWEEN DE BEERS INDIA MINERALS PVT LTD STATE DE BEERS INDIA MINERALS PVT LTD

JUDGEMENT

(1.) This petition has been filed by the Company De beers India Minerals Pvt. Ltd. (for short "dbimpl Transferee Company No. 1" or the "petitioner company") to invoke the provisions of sections 391 to 394 of the Companies Act, to obtain sanction to the Scheme of Amalgamation, along with De Beers India Explorations Pvt. Ltd. (for short "dbiepl Tranferor company No. 2") and De Beers India Geology Pvt. Ltd. (for short "dbigpl Transferor company No. 3") and De Beers India Survey Private Ltd. (for short "dbispl transferor Company No. 4") and De Beers India Prospecting Private Ltd. (for short "dbippl transferor Company No. 5) with De Beers India Private Ltd. (for short "dbipl/transferor Company"). (All these five transferor companies are thereafter referred as "transferor Companies").

(2.) The registered office of the petitioners company is situated at Advanced business Centre, 83 Maker Chambers VI, Nariman Point, Mumbai-21. The petitioner-company is private limited company and a Group company of the transferee Company.

(3.) The Transferor Company No. 1 was incorporated on. May 30,1997 and is engaged in the business of prospecting and exploration of diamonds, precious stones and other minerals. The Transferor Company No. 1 is engaged in reconnaissance activities in Andhra Pradesh and has made necessary applications to the appropriate authorities for additional reconnaissance permits in Chhattisgarh, Karnataka, Andhra Pradesh and Orissa. The Transferor company No. 1 has also established a treatment plant, used for processing of mineral samples in Bangalore, Karnataka.