M.K.Sharma, J. - (1.) This is a petition filed under Section 391 read with Section 394 of the Companies Act by the transferee company praying for sanction of this Court to a scheme of amalgamation of Cold Rollings India Pvt. Ltd. (the transferor company) with the petitioner company (the transferee company). The scheme of amalgamation stipulates that all the properties, rights and claims whatsoever of the transferor company and its entire undertaking together with all rights and obligations relating thereto is to be transferred to and vested in the transferee company on the terms and conditions as set out in the scheme of amalgamation.
(2.) The transferee Company was incorporated on 14th January, 1952 under the provisions of the-Companies Act having its registered office at "PIPE HOUSE" 56, Hanuman Road, New Delhi. The authorised share capital of the transferee company is Rs. 7,50,00,000.00 divided into 7,50,000 equity shares of Rs. 100.00 and paidup equity share capital is Rs. 6,50,00,000.00 divided into 6,50,000 equity shares of Rs. 100.00 . The main objects of the transferee company are set out in its Memorandum and Articles of Association.
(3.) The transferor company was incorporated on 25th August, 1994 as a private limited company. The main objects of the transferor company are also set out in its Memorandum and Articles of Association.;