JUDGMENT

S.B.MAJMUDAR

(1) LEAVE granted.

(2) BY consent of the learned advocates of parties this appeal was taken up for final hearing. We have heard the learned advocates of parties. The appeal is being disposed of by this judgment.

(3) THIS appeal by special leave arises out of the judgment and order of a division bench of the High court of Gujarat in Original Jurisdiction Appeal No. 16 of 1994 decided on 12/7/1996. The division bench by the said impugned judgment dismissed the appeal of the appellant and confirmed the order of the learned Single Judge in Company Petition No. 22 of 1994 and sanctioned a Scheme of Amalgamation of two public limited companies, namely, Mafatlal Industries Limited (MIL for short) being the transferee- Company with which Mafatlal Fine-Spinning and Manufacturing Company Limited (MFL for short) being the transferor-Company was to be amalgamated. The learned Single Judge granted requisite sanction to the applicant transferee-Company MIL to amalgamate in it the transferor- Company MFL under Section 391(2 of the Companies Act, 1956 (hereinafter referred to as the Act). In order to appreciate the grievance of the appella