SHAILESH P MEHTA Vs. RELIANCE PETROLEUM LTD

JUDGEMENT

(1.) THESE two Appeals preferred under Section 483 of the Companies Act, 1956 (hereinafter referred to as "the Act") arise from the judgment and order dated 22nd July, 2009 passed by the learned Company Judge in above Company Petition No.81/2009.

(2.) THE matter arises from a scheme of amalgamation of the respondent Reliance Petroleum Limited (hereinafter referred to as "the transferor company") and of Reliance Industries Limited (hereinafter referred to as "the transferee company").

(3.) THE transferor company has its registered office at Moti Khavdi in the State of Gujarat. A scheme of amalgamation of the transferor company and the transferee company was proposed and was approved by the Board of Directors of the transferor company. Under the proposed scheme, it was resolved, inter alia, that against 16 shares in the transferor company, on amalgamation, a member would receive one share in the transferee company.