1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.301 OF 2008 WITH COMPANY APPLICATION NO.157 OF 2008 Oyster Promoters and Developers Private Limited .. Petitioner WITH COMPANY PETITION NO.302 OF 2008 WITH COMPANY APPLICATION NO.158 OF 2008 D.S.Kulkarni Developers Ltd. .. Petitioner Mr.Amish Shroff i/b. Rajani Associates for petitioners Mr.S.Ramakantha, Dy.O.L. in C.P.301 of 2008 Mrs.Purnima Awasthi i/b. S.K.Mohapatra for R.D. CORAM : S.C.DHARMADHIKARI, J. DATE : 10th July 2008 P.C. . Heard learned Counsel for the parties. 2 2. The sanction of this Hon’ble Court is sought under sections 391 to 394 of the Companies Act, 1956 to the Scheme of Amalgamation of Oyster Promoters and Developers Pvt.ltd. with D.S.Kulkarni Developers Ltd., and their respective shareholders and creditors. 3. Counsel appearing on behalf of the petitioners has stated that they have complied with all requirements as per directions of this Hon’ble Court and they have filed necessary affidavits of compliance in the Court. 4. Upon perusal of the entire material placed on records, the Scheme appears to be fair and reasonable and neither violates any provisions of law and nor contrary to any public policy. None of the parties concerned have come forward to oppose the scheme. Moreover, both the Regional Director and the Official Liquidator have stated that the scheme as proposed is not 3 prejudicial to the interest of shareholders and creditors and public. 5. There is no objection to the scheme and since all the requisite statutory compliances have been fulfilled, Company Petition Nos.301 and 302 of 2008 filed by the Transferor Company and the Transferee company are made absolute in terms of prayer clauses (a) to (h) respectively. 6. The transferee company to lodge a copy of this order and the scheme with the concerned Superintendent of stamps for the purpose of adjudication of stamp duty payable, if any, on the same within 30 days of obtaining the certified copy and/or an authenticated copy of the order. 7. The petitioners in both the company petitions to pay costs of Rs.5000/- each to the Regional Director and to the Official Liquidator 4 by the petitioners in the petition filed by the Transferor companies. Costs to be paid within four weeks from today. 8. Filing and issuance of the drawn up order is dispensed with. 9. All authorities concerned to act on a copy of this order duly authenticated by the Registry. (S.C.Dharmadhikari, J)