JAQUAR STEELS PRIVATE LIMITED HYDERABAD Vs. PETITIONER UNDER SECTION 391 AND 394 OF THE COMPANIES ACT PRAYING THAT THIS HIGH COURT MAY BE PLEASED TO

JUDGEMENT

(1.) The petitioner in C.P.No.99 of 2003 is the transferor company. The petitioner in C.P.No.100 of 2003 is the transferee company. The above petitions are filed seeking sanction of the scheme of amalgamation under Section 394 of the Companies Act, 1956.

(2.) The petitioner in C.P.No.99 of 2003 namely, the transferor company, was incorporated on 6-10-1986 as Private Limited Company with its registered office at Mahaboobgunj, Hyderabad. The authorised capital of the company is Rs.25,00,000.00 divided into 2,50,000 equity shares of Rs.10/- each. The issued, subscribed and paid-up share capital of the company is Rs.24,50,000/- divided into 2,45,000 equity shares of Rs.10.00 each. The main object of incorporating the said company as set out in the Memorandum of Association annexed to the petition, is to carry on business of manufacturers, processors, producers, buyers, sellers, traders, importers of all kinds of steel.

(3.) The petitioner in C.P. No.100 of 2003, namely the transferee company, was incorporated on 22-2-1986 with its registered office at Mukhtiyargunj, Hyderabad. The authorised capital of the company is Rs. 1,00,00,000/- divided into 1,00,0000 equity shares of Rs.10.00 each. The issued, subscribed and paid-up capital of the company is Rs.5,50,000.00 divided into 55,000 equity shares of Rs.10.00 each. The main object of incorporating the company, as set out in the Memorandum of Association annexed to the petition is to carry on the business of manufactures, processors, producers, buyers, sellers, traders, importers, exporters and suppliers of all kinds of steel.