2003 (3) TMI 633 - HC - Companies Law

Summary

The High Court of Bombay allowed the appeals against the order rejecting the merger of Programme Asia Trading Co. Ltd. into Zee Telefilms Ltd. The court found that the prosecutions under the Companies Act did not warrant stalling the merger, as the Regional Director did not object to it. The impugned order was set aside, and both Company Application Nos. 1115 and 1116 of 2002 were allowed. The transferee company was directed to make payments to the Regional Director and Official Liquidator.