( 1 ) WILLCOX Buckwell India Ltd. , a public limited company (hereinafter REFERRED TO to as the Transferor Company), incorporated under the Companies Act, has prayed for sanctioning of the Scheme of Amalgamation, which has been duly resolved by it with the Larsen and Toubro Limited, another public limited company (hereinafter REFERRED TO to as the Transferee Company), on the terms and conditions mentioned in paragraph 6 of the Petition (C. P. 29/71 ). The same is opposed by the Central Government to which notice went under Section 391 of the Companies Act; the labour union of the. Transferor Company has not opposed the amalgamation as such but only a certain amendment sought for in Company Application No. 177 of 197. 1.

( 2 ) THE transferee Company has an Authorised Capital of Rs. 5,00,00,000 divided into 20,000, 5% Free of Tax Preference Shares of Rs. 100. 00 each and 48,00,000 Equity Shares of Rs. 10. 00 each. The Issued, Subscribed and Paid up capital of the Trans- feree Company is Rs. 4,14,30,000. 00 consisting of 15,000. 00 Preference Shares (2,000 redeemable on six months notice) and 39,93,000 Equity Shares. The Authorised but yet un-issued capital of the Tr