UNION OF INDIA (UOI) Vs. MOREPEN LABORATORIES LTD.

JUDGEMENT

(1.) THESE applications have been moved by deposit holders or transferees from deposit holders or those who have purchased the deposit documents in the open market, for being impleaded as party in the present appeal, as according to them, they are likely to be adversely affected, in case the appeal is allowed.

(2.) LEARNED Additional Solicitor General of India says that he has no objection in case the applicants in these applications are permitted to intervene. Hence, the applications are allowed. All the applicants are ordered to be impleaded as respondents.

(3.) THIS appeal, under Section 391(7) of the Companies Act, is directed against the order dated 4th August, 2009 of learned Single Judge, passed in a petition, under Sections 391 to 394 of the Companies Act, 1956, by which an arrangement for discharge of the debts of fixed depositors, has been approved.