IN RE: ZEE TELEFILMS LIMITED; IN RE: PROGRAMME ASIA TRADING COMPANY LIMITED Vs. STATE

JUDGEMENT

(1.) HEARD Mr. Bhatt for the appellants in both the appeals. Mr. Master is present for the Regional Director, Department of Company Affairs.

(2.) BOTH the appeals are filed against the order passed by the learned single judge on January 23, 2003, rejecting the Company Applications Nos. 428 and 429 of 2002. Application No. 428 of 2002 sought merger of Programme Asia Trading Co. Ltd. into Zee Telefilms Ltd. Application No. 429 of 2002 was the application of the transferee company.

(3.) THE learned single judge heard both the applications, perused the affidavit filed by the Regional Director. The affidavit referred to certain prosecutions under Sections 217(5), 212(9), 209(5), 307(7) and 211(7) of the Companies Act. The learned judge therefore formed an opinion that this was not a matter wherein leave under Section 391 could be granted. It is this order which is challenged in these appeals.