W H TARGETT AND CO LTD Vs. WALL STREET INVESTMENT P LTD
HIGH COURT OF CALCUTTA
W.H. TARGETT AND CO. LTD
WALL STREET INVESTMENT P. LTD
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Dipak Kumar Sen, J. -
(1.) W.H. Targett and Co. Ltd., the petitioner, seeks to transfer about 1 bigha, 5 cottahs and 19 sq. ft. land in premises No. 20; Burdwan Road, Calcutta, to Wall Street Investment P. Ltd. against allotment of a number of shares of the latter in favour of the former by way of an arrangement under Chap. 3 of the Companies Act, 1956.
(2.) The present application under Sections 391(2), 392 and 394 of the said Act was moved on September 24, 1982, pursuant whereto meetings of the shareholders of the two companies were held. The shareholders of both the companies approved the arrangement unanimously.
(3.) It is now prayed that the arrangement may be sanctioned by this court with effect from April 1, 1982, and that consequential directions in respect thereof be made in favour of the said Wall Street Investment P. Ltd. and that the latter be directed to issue and allot 40,000 equity shares of Rs. 100 each credited as fully paid up to W. H. Targett & Co. Ltd. In the petition it is, inter alia, alleged that the provisions of the Monopolies and Restrictive Trade Practices Act, 1969, do not apply to the said arrangement.;
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