Shiv Kumar Sharma, J. - (1.) THE applicant Balaji Industrial Products Limited (Applicant Transferor Company) and Balaji Industrial Engineering Limited (Applicant Transferee Company) filed this application under Section 391 of the Companies Act, 1956 (hereinafter shall be referred to as the Act of 1956) praying as under: (i) necessary directions may be given as to the issue and publication of notices and the convening, holding and conducting of the separate meetings of secured and unsecured creditors of the applicant Transferor Company, and (ii) the meeting of the members of the Applicant Transferor Company may kindly be dispensed with. (iii) the meeting of the members of the Applicant Transferee Company may kindly be dispensed with. (iv) Any other order which this Hon'ble Court may deem fit in the facts and circumstances of the case may kindly be passed.
(2.) BALAJI Enterprises Pvt. Limited was incorporated on November 21, 1983 with the Registrar of Companies Jaipur. The company changed its name to Balaji Industries Private Limited vide certificate of incorporation dated May 24, 1993 subsequently converted into a public limited company vide fresh certificate of incorporation on May 21, 1993 and name was subsequently changed to Balaji Industrial Products Ltd. (Transferor Company) With effect from April 8, 1994. The position authorized issued, subscribed and paid up capital of the applicant transferor company as on date is detailed out in para No. 4 of the application.
(3.) THE main objects of the applicant transferor company as set out in the object clause of its Memorandum of Association, have been detailed out in para No. 5 of the application. The copy of the latest audited annual accounts of the applicant transferor company for the year ended on March 31, 2008 has been submitted as Annexure D to the application.;