JUDGMENT :

R.M. Doshit, J.

These two appeals preferred under section 483 of the Companies Act, 1956 (hereinafter referred to as "the Act") arise from the judgment and order dated July 22, 2009, passed by the learned company judge in the above Company Petition No. 81 of 2009 (Reliance Petroleum Ltd., In re (2010) 154 Comp Cas 286 (Guj)).

2. The matter arises from a scheme of amalgamation of the respondent Reliance Petroleum Ltd. (hereinafter referred to as "the transferor company") and of Reliance Industries Ltd. (hereinafter referred to as "the transferee company").

3. The transferor company has its registered office at Moti Khavdi in the State of Gujarat. A scheme of amalgamation of the transferor company and the transferee company was proposed and was approved by the board of directors of the transferor company. Under the proposed scheme, it was resolved, inter alia, that against 16 shares in the transferor company, on amalgamation, a member would receive one share in the transferee company.

4. The transferor company filed Company Application No. 65 of 2009 before the learned company judge for a direction under section 391(1) of the Act to hold the meeting of the secured creditors (cl