BAHETI ROTOPLAST PRIVATE LIMITED Vs. VECTUS INDUSTRIES LIMITED

JUDGEMENT

(1.) BY invoking the jurisdiction of this Court under Sections 391(2) & 394 of the Companies Act, 1956 (for brevity 'Act'), the petitioner company has prayed for sanction of the Scheme of Arrangement ('Scheme') of Baheti Rotoplast (P) Limited (for brevity, 'Transferor Company') and Vectus Industries Limited (for brevity, 'Transferee/petitioner company'). Along with affidavit, the petitioner has placed on record the copy of order dated 28.1.2014, passed by High Court of Delhi in Company Petition No. 542/2013. This petition was filed by the transferor company, which is having its registered office at Delhi. The Delhi High Court has finally approved the second motion filed by the transferor company and accorded its sanction to the scheme of amalgamation between the transferor and transferee/petitioner company. The aforesaid transferor and transferee companies are parties to the present petition.

(2.) THE registered office of petitioner company is situated at Gwalior,. Thus, it is within the jurisdiction of this Court.

(3.) THE petitioner has also filed copy of the resolution passed by the Board of Directors of the petitioner company, whereby they have approved the Scheme aforesaid.