BOMBAY GAS CO PRIVATE LIMITED Vs. CENTRAL GOVERNMENT

JUDGEMENT

(1.) BY this application, the applicants have impugned order dated 29th June, 1988, passed by this Court in Company Petition No. 134 of 1988 sanctioning scheme of amalgamation after several years of the said scheme having been acted upon on several technical grounds. It did appear to the Court at one stage that the technical grounds urged on behalf of applicants had at least an air of plausibility and required scrutiny. On scrutiny of all the grounds urged, the Court has reached the conclusion that there is no substance whatsoever in any of the grounds and the application lacks merit. There is some merit in the contention of the petitioners that the application herein is not made bona fide. The application herein is dismissed with no order as to costs.

(2.) ON 26th April, 1862, the Bombay Gas Company Limited was incorporated as Company in U. K. under the Joint Stock Companies Act, 1856-57. The said company is now known as "the Bombay Gas Public Limited Company. The Registered Office of the said Company was situated at 368a, Grays Inn Road, London WC IX 88, England and its head office was situated at Empire House, 214, Dr. Dadabhoy Naoroji Road, Bombay 400 001. The said company was re-registered as a public company under the English Companies Act, 1948 to 1980 under its name "the Bombay Gas Public Limited Company. This company is now under winding up in U. K. This company is hereinafter referred to as the British Company. This company had considerable assets and business in India at the relevant time. The applicant No. 1 was a shareholder of this company at the relevant time. The applicant No. 2 claims to be beneficial owner of certain shares of this company.

(3.) ON 9th February, 1982, the Bombay Gas Company Private Limited (i. e. the petitioner herein) was incorporated as a Private Limited company under the Companies Act, I of 1956.