Taco Composites Limited Vs
Case brief
What is this about?
This bench sanctioned the Scheme of Amalgamation of TACO Composites Limited with Tata Autocomp Systems Limited under Sections 391 and 394 of the Companies Act, 1956, finding that statutory requirements were met and the scheme was fair and not prejudicial.
What did the court decide?
Company Scheme Petition No. 343 of 2012 made absolute; petitioner directed to lodge authenticated order with Company Registrar for stamp duty adjudication.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SCHEME FOR PETITION NO. 343 OF 2012
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO. 70 OF 2012
In the matter of Companies Act, 1956
And
In the matter of Petition Application under Sec 391 & 394 of the Companies Act, 1 of 1956
And
In the matter of TACO Composites Limited,
And
In the matter of Scheme of Amalgamation of TACO
Composites Limited
with
TATA Autocomp Systems Limited.
Issues for consideration
3 issues framed by the court
Whether sanction of court is to be granted to Scheme of Amalgamation of TACO Composites Limited with Tata Autocomp Systems Limited under Section 391-394 of Companies Act, 1956.
Whether all requisite statutory compliances have been fulfilled for the proposed Scheme of Amalgamation.
Whether the scheme of amalgamation is prejudicial to the interest of shareholders, public, or contrary to public policy.
Parties & counsel
- petitioner
TACO Composites Limited
- respondent
Regional Director
- other
Official Liquidator
Coram
Case details
As recorded by the court registry
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