RAJIV NARAIN RAINA,J. - (1.) IN this petition under Section 391 to 394 of the Companies Act, 1956, duly supported by affidavits, the petitioner -Transferor and Transferee Companies seek sanctioning of the Scheme of Amalgamation (Annexure P/1).
(2.) MAIN objects of the Transferor Company -I, the Transferor Company -II and the Transferee Company are detailed in their respective Memorandum and Articles of Association annexed with the petition at Annexures P -2, P -4 and P -6, respectively. The Authorised Share Capital of Transferor Company -I is Rs.1,00,00,000/ - divided into 10,00,000 Equity Shares of Rs.10/ - each. Its Issued, subscribed and paid -up capital is Rs.35,75,050/ - divided into 3,57,505 Equity Shares of Rs.10/ - each each.
(3.) THE Authorised Share Capital of Transferor Company -II is Rs.1,00,00,000/ - divided into 10,00,000 Equity Shares of Rs.10/ - each. Its Issued, subscribed and paid -up capital is Rs.23,96,400/ - divided into 2,39,640 Equity Shares of Rs.10/ - each.;