Suhas Chandra Sen, J. - (1.) This is an appeal preferred by the Regional Director, Company Law Board, Eastern Region, against a judgment dated April 29, 1982, delivered by T.K. Basu J. (Hindusthan General Electrical Corporation Ltd v. Karamchand Thapar and Bros. [1984] 55 Comp Cas 497 (Cal)), on an application under Section 391(2) read with Section 394 of the Companies Act, 1956, for confirmation of a scheme of amalgamation.
(2.) An application was made for obtaining sanction of this court to a scheme of amalgamation of the entire undertaking of Hindusthan General Electrical Corporation Ltd. with Karam Chand Thapar Ltd. It has been stated in the petition that shortly after incorporation Hindusthan General Electrical Corporation Ltd. was engaged in the business of raising iron ore and manganese ore. From the profit & loss account of the company for the year ended 31st July, 1981, it appears that the company also manufactured iron clad switches, starters, cutouts, distribution board/boxes and lighting equipments, wireless receivers (valves & transistors), electrical accessories, cassein and dicalcium phosphate.
(3.) It also appears from the profit & loss account of Karam Chand Thapar Ltd. for the year ended 31st March, 1981, that it was engaged in the production of iron and manganese ores, agricultural farm products, building and construction materials and equipments.;