1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SCHEME PETITION NO. 51 OF 2011. CONNECTED WITH COMPANY SUMMONS FOR DIRECTION NO. 835 OF 2010 INITIAL INVESTMENT PRIVATE LIMITED .....Petitioner/ First Transferor Company AND COMPANY SCHEME PETITION NO.52 OF 2011 CONNECTED WITH COMPANY SUMMONS FOR DIRECTION NO.836 OF 2010 BHOGAL MERCHANT & TRADING PRIVATE LIMITED ……Petitioner / Second Transferor Company AND COMPANY SCHEME PETITION NO.53 OF 2011 CONNECTED WITH COMPANY SUMMONS FOR DIRECTION NO.837 OF 2010 MEHRAULI TRADERS PRIVATE LIMITED ……Petitioner / Third Transferor Company AND COMPANY SCHEME PETITION NO.54 OF 2011 CONNECTED WITH COMPANY SUMMONS FOR DIRECTION NO.838 OF 2010 TRISHUL TRADERS PRIVATE LIMITED ……Petitioner / Transferee Company In the matter of the Companies Act 1 of 1956); AND In the matter of Sections 391 to 394 of the Companies Act, 1956; AND 2 In the matter of Scheme of Amalgamation of INITIAL INVESTMENT PRIVATE LIMITED, the First Transferor Company AND BHOGAL MERCHANT & TRADING PRIVATE LIMITED, the Second Transferor Company AND MEHRAULI TRADERS PRIVATE LIMITED, the Third Transferor Company WITH TRISHUL TRADERS PRIVATE LIMITED, the Transferee Company Mr. Rajesh Shah i/b Rajesh Shah & Co., Advocate for the Petitioners in all Petitions Dr. T. Pandian, Official Liquidator, present in CSP Nos. 51 of 2011, 52 of 2011 and 53 of 2011 Mr. C. J. Joy and Mr. N. D. Sharma, i/b Mr. H. P. Chaturvedi for Regional Director in all Petitions. CORAM : S. J. Kathawalla, J. DATE : 8th July, 2011 PC: 1. Heard counsel for the parties. 2. The sanction of the Court is sought to a Scheme of Amalgamation of INITIAL INVESTMENT PRIVATE LIMITED, the First Transferor Company and BHOGAL MERCHANT & TRADING PRIVATE LIMITED, the Second Transferor Company and MEHRAULI TRADERS PRIVATE LIMITED, the Third Transferor Company with TRISHUL TRADERS PRIVATE LIMITED, the Transferee Company, under Sections 391 to 394 of the Companies Act, 1956. 3 3. Counsel appearing on behalf of the Petitioners have stated that they have complied with all requirements as per directions of this Court and they have filed necessary affidavits of compliance in the Court. Moreover, Petitioner Companies undertake to comply with all statutory requirements, if any, as required under the Companies Act, 1956 and the rules made there under. The said undertaking is accepted. 4. The Official Liquidator has filed a report stating that the affairs of the Transferor Companies have been conducted in a proper manner and that the Transferor Companies may be ordered to be dissolved. 5. The Regional Director has filed an affidavit stating therein that it appears that the scheme is not prejudicial to the interest of the shareholders and the public. 6. From the material placed on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy. None of the parties concerned has come forward to oppose the Scheme. 7. Since all the requisite statutory compliances have been fulfilled, Company Scheme Petition Nos.51 of 2011, 52 of 2011 and 53 of 2011 filed by the Transferor Companies are made absolute in terms of prayer clauses (a) to (j) and the Company Scheme Petition No.54 of 2011 filed by the Transferee Company is made absolute in terms of prayer clauses (a) to (i). 8. The Petitioner Companies to lodge a copy of this order and the Scheme duly authenticated by the Company Registrar, High Court (O. S.), Bombay, with 4 the concerned Superintendent of Stamps, for the purpose of adjudication of stamp duty payable, if any, on the same within 60 days from the date of the order. 9. The Petitioners in all Company Scheme Petitions to pay cost of Rs. 10,000/- each to the Regional Director, Western Region, Mumbai and the Petitioner in the Company Scheme Petition Nos.51 of 2011, 52 of 2011 and 53 of 2011 to pay costs of Rs.10,000/- each to the Official Liquidator, High Court, Bombay. Costs to be paid within four weeks from today. 10. Filing and issuance of the drawn up order is dispensed with. 11. All authorities concerned to act on a copy of this order along with Scheme duly authenticated by the Company Registrar, High Court (O. S.), Bombay. (S. J. Kathawalla, J.)