( 1 ) THIS petition is filed by the petitioner for sanction of the scheme of arrangement and amalgamation between J. K. Industries Limited (hereinafter referred to as Transferee Company) and its share holders and J. K. Agri Genetics Limited (hereinafter referred to as jkal) and its shareholders and J. K. Sugar Limited (hereinafter referred to as JKSL) and its shareholders and Vikrant Tyres Limited, the petitioner herein, and its creditors and its shareholders.

( 2 ) THE petitioner is a public company limited by shares under the Companies Act of 1956, on October 3, 1973 having its registered office at Vikrant House, No. 54, First Main Road, V. V. Mohalla, Mysore, Karnataka. The main object of the petitioner is to manufacture, construct, produce, prepare, vulcanize, retread, repair, develop, improve, sell, export, import and generally deal in tyres and tubes of every description for all types of vehicles and other business as mentioned in the memorandum of association. The authorized share capital of the petitioner is Rs. 40 crores and Rs. 5,00,000. 00 14% redeemable cumulative preference shares of Rs. 100 each of the total value of Rs. 5,00,00,000/ -. The issue subscribe