- (1.) Heard Shri R.P. Agarwal, learned Counsel for petitioner companies. The Official Liquidator, U.P. as well as Regional Director, Northern Region, Ministry of Corporate Affairs, Noida have filed their reports.
(2.) These two Company Petitions, filed for confirming the Scheme of Amalgamation separately by the demerged and resulting companies under Sections 391 and 394 of the Companies Act, 1956, are listed for hearing after advertisements in the same newspapers in which the advertisements convening the meetings were carried out.
(3.) The Company Application No. 1 was filed on 15-1-2008 by Kothari Products Limited a Company incorporated under the Companies Act, 1956 having its registered office at Pan Parag House 24/19, The Mall, Kanpur-208 001, within the jurisdiction of this Court (hereinafter called as the demerged company), engaged in the business of production and sale of supari, tobacco pan masala, gutkha and beverages. It also has investments in shares and securities including real estate. The Company Application No. (2) of 2008 was also filed on same day, i.e., on 15-1-2008 by Pan Parag India Limited , a Company incorporated under the Companies Act, 1956 having its registered office at "Pan Parag House 24/19, The Mall, Kanpur 208 001, (hereinafter called as the resulting company). By a Scheme of arrangement the Kothari Products Limited proposes to demerge the Pan Masala Division, Beverages Division and Trading Division into Pan Parag India Limited .;