- (1.) Two companies are the Petitioners before me. One is Singhal Enterprises P. Ltd. (SEPL). The other is Singhal Enterprises (Jharsuguda) P. Ltd. (SEJPL). Each seek sanction of a scheme of arrangement, described as a demerger, between themselves and their members. This application is marked as C. P. No. 384 of 2007. The scheme is appended to the petition.
(2.) Another application has been taken out by a judge's summons dated May 7, 2008, by Parmanand Agarwal and Sulochana Agarwal, numbered as C. A. No. 328 of 2008 opposing sanction. An affidavit is filed by B. S. Sponge P. Ltd., also opposing such sanction.
(3.) The Petitioner companies and B. S. Sponge P. Ltd., are controlled by a certain Agarwal family. SEPL was incorporated on February 14, 1997. Its registered office is at 303 Century Towers, 45 Shakespeare Sarani, Kolkata-700 017. Its principal objects are to carry on the business of manufacturing, processing, selling and buying sponge iron.;