BIRLA TEA LTD Vs. STATE

JUDGEMENT

(1.) THIS application is at the instance of Birla Tea Limited which is new name of a company then known as North Tukvar Tea Company Limited. The said North Tukvar Tea Company Limited, in its turn, was a transferee of the right, title and interest of unexpired period of leasehold interest in respect of Tea Garden known as Sungma Tea Estate. The original lessee was Sungma Tea Limited Company of this lease for a period of 30 years from 1970, then on an application made under Sections 391 and 394 of the companies Act, 1956, the said Sungma Tea Company Limited being the original lessee stood amalgamated with North Tukvar Tea Company Limited.

(2.) THE scheme of amalgamation was placed before the Court by both the companies, namely, transferor and transferee and the same was accepted by the Court. The copy of the scheme of amalgamation has been annexed to this application and we suggest that all the rights and liabilities have been transferred unto and in favour of said North Tukvar Tea Company being the Transferee Company, The effect of amalgamation by the Court order is very clear in the scheme itself as well as in Section 394 of the companies Act. The effect is that Sungma Tea Co. Ltd. , ceased to be the lessee and in its stead and place, North Tukvar Tea Co. Ltd. , became the transferee lessee. The aforesaid factual aspect has not been denied and disputed by any body else. Subsequently, the name of North Tukvar Tea co. Ltd. , was changed and the first applicant changed the status of the said company. Change of the name under the law does not loose the corporate character and entity and it remains as it is.

(3.) AFTER order of amalgamation followed by change of name, the first applicant started enjoying the leasehold interest and manufacturing tea in the said garden. In the year 2000 the period of leasehold expired by efflux of time.