AJMERA REALTY AND INFRA INDIA LTD Vs. STATE

JUDGEMENT

(1.) THE Petitioners seek an order sanctioning a scheme of arrangement entered into between them. The scheme involves the demerger of the steel division of the Petitioner in Company Petition No.63 of 2009, the transferor company and the merger thereof into the resulting company i.e. the Petitioner in Company Petition No.64 of 2009.

(2.) THE procedure has been complied with. The Regional Director has filed an affidavit stating that subject to the observations in paragraph 6 thereof, the scheme does not appear to be prejudicial to the interest of the shareholders and the public.

(3.) THERE is no provision in law which requires the balance sheet and profit and loss account or the scheme enumerating and setting out each and every asset which is the subject matter of the scheme of demerger. My attention has not been invited to any such provision.