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REGISTERED No. D. (D.N.)-72

E X T R A O R D I N A RY

PART II-Section 3--Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 169] NEW DELHI, THURSDAY, MARCH 31, 1933/CHAITRA 10, 1905

Separate paging is given to this Part in order that it may be filed as a separate

compilation

1539 GI/82

(1)

3

MINISTRY OF LAW, JUSTICE & COMPANY AFFAIRS

(.Department of Company Aflairs)

(Company Law Bourd)

ORDER

Nc>v Delhi, the 31st Maidi, 19

S.O. 27(KE).—Whereas, the Company Law Boaid is satis- lled that it is essential in public interest that Andrew Yulo and Company Limited, a company incorpt i ated under the .Indian Companies Act 1913 (.VH of 1913) jnd its two in- vestment subsidiaries, namely Chve Row Investment Holding Company Limited, a company incorporated under the Indian Companies Act, 1913 (VII of 1913) and its wholly owned subsidMiy Chitporc GoLbari Company Limited, a company intoipointed under the Indian Companies Act, 1882 (VI of 1882), each of these three companies begin a company with- in the meaning of section 3 of the Companies Act, 1956 (1 of 1956), r.hould be amalgamated into a single company;

And whereas, a copy of the proposed order was sent in draft to the companies aforesaid namely, Chitporc Golabari Company Limited, Clive Row Investment Holding Company Limited, and Andrew Yule Hnd Company Limited and no objection or suggestion has been received from them or from any other person by the Company I aw Board;

Now, tlieiefore, in exercise of the powers confeircd by sub-sections (1) .ind (2) of section 396 of the Companies Act, 1956 (1 of 1956), read with the notification of the Government of India in the Denartment of Comimnv Affairs No. GSR 443 (E) dated 18th October, 1972, the Company Law Board hereby makes 1he following order namely :—

1. Short Title.—This order may be called the Chitpore Golabari Company Limited, Clive Row Investment Holding Company I imited and Andrew Yule and Company Limited (Amalgamation) Order, 1983.

2. Definitions.—In this order unless the context otherwise

lequires :—

(a) 'Appointed day' means the date on which this order

is notified in the Official Gazette;

(b) 'Dissolved companies' mean Ohltnore Goiahari

Company Limited (hereinafter referred to as CGC)

and Clive Row Investment Holding Company Limil- ed (Uereinaftei l e f ' i r td lo as CRIHO)

(U Re Lilting company means Andiew Yule and Com- pini 1 united (licitiu"iflei leleieid o as Yule)

i Vm IIL imuioti of 11K lump n uo U) As tiom the ap nonu-d di>, Ihe LtndLilakmgs oi. Uir dissolved companies subject io uieumhLanuN theieon if any, whall stand nans f tIl td w and vest in Yule which companv shall immediately cxi such ti insKi be deemed to he ihe Lompnn\ icsi.lting fiom the am dg imalion

In) l or a u u u n l i ne piuposcs I)K .imdlt'.lnidtiop shall be e f k u ed wild reference to I he ntdilcd accounts and Ulance SIKUS H, on il t March, 1982 ol the th ec e o nv inies, and die ti inactions ihcieaiiei shall ht pooled into a. Lommon jt-eoun The dissolved compame shall not IK- i c q n u td to picpitc then linal tccounts as on any latei date and the ic- sullmi! tumpinv sh>H like ovei all assets did liabilities at cording to Ihe b il LIKC sheets as on 31st Maich 1982 and accept full lesptinsihiliiN (di ill t insictions theieiftei

J vpl ination— [ ht. imdeit ikings of I IK dissolve! om r n . u t s' sh ill mcl id<. all iivht, [tH\i-i' iiithoniics and pn vilcu s md jll piopeilies muveable oi immovtiblL including L is|] balances itseives levcnue k h i Ko invt-simcnts and all othei intcitsfs aJid lights in oi iisinu oiir of siieh piopei- tics i, niuv belom- lo )i be in the possession of IIIL di^ ol\rd companies immediate^ before' the appointed d.i' and i I) books iceounls and documents i t ! i h 'u Ihtielo and also all debts liabilities J i i t ei and iihligt, ons of whilivii kind lhcn e\i 'MIL tl (he dissolved ^omp mic

4 I i nislci of cciliin ileir.s of piopcity Foi the puiposc of (hi-, order ill the pio/ils Oi Josse-. oi both i! any ol the d s oKcd comp inics TS on the appointed day and the icve in'' icseives oi deficits oi ho(h it any ot the dissolved com pjiius when (iinsfcncd to the iCsillLing t u m p am shall tcs peetuely foim p ul of the p ofils ot lmses nnd Ills lcvenue res,, vi-s or deficits as the L ISC may be of the resulting comp inv

5 Sdwrit of eonfiaels e'le —Vuoie i to in oihu piovi ions

e u n t u n td in this Order ill c o m n e ts deeds bonds, ngiec- inmts and olhei in ti Liments of wh itevci m u i ie to which the diw>l\ed coiTipitnies na putics suhsistiuc oi having effect immedi itclv before tbc ippm Vd iMv hh.il] IIILVC rnll [oice ant' efTect ayuinsf oi in fi\oiii if Ilie icHiltinj: l o m p jm md may he UIIOILCJ as lnH\ md eficLtivtlv is if Mislead ol

the dissolved conip inits the KSIIIIJIH. l o m p un hid been a pnrtv theieto

5

Hie capital ot CRIHCO ind ihc uljiesaid s h u es shall stand emeclled b virtue of this older As to the remaining 42,104 oidmai} shaie, in the capital ci C R 1 H C 0, Yule shall ksuo .ititi the appointed ovei by allotment at pai to the respective holders ot tne atuicsaid 42 104 oidinaiy bbaies in C R I H CO oidHMiv shaies m Yule in the pioportion of ^ tull> paid oidinaij shires uf Rs 10 each in Yirlt foi evciv 4 lully p ud ojduiary shaits ot RJ. 10 each m CKIHCO held bj ihem on the date lmmcdiaHy prcceediTit, the appointed uny igamsl tender to \ ulc ot the lelative share c.eitificate(s) and si lib oidmaiy shajes to be issued and allotted by \ ulc will i nk p in p ISSH with Ihe L\(siinp i sued oldinms shaios of

i hi II tU illotment ol ihc share., hy \ ulc in teims ol sob

elaus i) ibovo involves fneiions then such fractions shall be consolidated and the -.halts so consolidated slnl¹ be all it nl by he Bowid ui Diicclois ot Yule (o m\ < -le oi moie nl the DnectoK oi emplovees i Yul who si ill sell the Mid consolidate! shuics .it Mich pi ice oi prices and upon siteh teirns and con htions is uiix, \K aipoiv d b* the Boaid i D n c . t o is oi Yule nnd the mi vile pioceeds therool shall be diitnbuted imoin Ihe holdcis coretmed ol the onlfnnry shiies in CRIIICO vvho vvould othciwi^- have been entitled to ueh h leiionb ill pioportion to then icspcetive tntitlc niellls

Ul The allotment ot tht o i d n uy shaie, In Yule md p i>- nici't according (o siib-cIaiLses i i) and (b) ibove to a rwn iLsident mem be i ot CR1HCO s Ml be subject to the nppioval o1 Rtseive Bank of Tndia undci the l-oieitn f \ c b ? n gc Re LIII ilion \i( 197" (4fi of 1^73)

id) "i cile shall cause to Ic published in the lia/ellc of Indn md send bs ie4isleied pi>si to C\n_\ holdei of oidmaiy sh ii s in CRIHCCi (uthei than Yule) whose name is enter td n the Rcgistci ol Memlwis of C R I H CO on l he date re- I oi ltd to in silbcluise I i) above j no'ice yvhij; particulars of the allotment of new shaies 'n Yule ind he di posal of I1 ictionil shares in ihe ni.iimer niovided in sub-clause (b ibo\c Ihc above notiuc shajl also mention n dote to b- lived bv the B o nd ot Duectais of Yult within which t ht icspective holdcis ot o u l i n nv shatc in CRITTCO (othei than Yule) shill suiicndci to Y Ue llu icljtivc (.eitificatc(s) foi iidmarv shue-, in C R l T I td and upon such Mnrendci Yrule will (i) issue (o (hem ceitificitct ) loj ordinary shaies in ^i UIL illotted imder sub el uisc I'll bove and d i) m i ke pay in iu where- due in t rms of sub-clause fb) above

c I When m\ o u i i nm s h ue m C R I R Cn hive bfjn il ih ii nsleued b e t on the appon led di.v but they h a \e not be i leeiived bv I R I 1 KO foi ietisti ition ol Ihe transfei hefote ihe ipiioniled ilav thL t rm feiec of such shajes shall ht rntilK ( iirw^i siibmiismn to Ynie on ot befoic the- date l i \ id bv thr Ho iid nl Dllec ois of Yule as icfeircd to in s ub el m sc I d) a h o ve ( i) t he club e x e c u t ed n t r u m e nl of tr HISCLI md ( n) t he lelative c e r t i f i c a t e f s) of s h a r es In C R I Hf n to i t e e i ve t he c e r t r f l c i t e ( s) of s h a r es In Y u le in fht- pi or oi don mentioned in sub cl ITTJC ( I) ihovi

c o m | • ^ < l n l e^ o of i n v l h i n ij e i > f ii i n ed in t h is o i d ci H I T! ; ht

10, Piovident 1 und, supciannuation fund, welfaie lund

01 other Kinds established by Ct.C 01 CR1HCO.—All office™ and employees oL the dissolved companies and the texulting uimpanj aie membets ol either tlv State Fund 01 the JCVC- lal Pio\ ident/Supeiauniitttion hund Initiations (.ertabhshed loi the- benefit of ie,peetlve employees) and the respective umipdmes have been making thpir respective contrihutlons to Ibe >;iicl funds. With the officers ami employees of the dis- solved companies, becoming employees of the icsulting com- pany by virtue ot this order, the saM officeis and employees j-hj.Il continue to lemain members of the said lespective ( vads "nd the lesuliing company shall with elleet fiom the date of this notification continue to make the contributions to ihe said Funds in lespcct of these employees.

11 Position of Diiectors of ( GC and CRIHCO—Wcry IJnertoi of

12 Auditor of CGC and CRlHf'O.—The aiiditois ol the fdsMilved eouipames' holding theii rii'ipective oliii.es immedi.i- telv Hlore the appoiatcd day shall cease to lie the .mditors ^ such with effect from the appointed day.

M DiMdend ol CXiC and CRTHrO.—Notwithstanding in\thuig eonlained m this order, dividend, i£ iiny, declaied :inif paid by either of the dissolved companies on 1beir tes- (ootive ordinary sh.ues in respect of their accounting >ear fjuli.-d ^ist Maidi, 1lJS2 ^h.ill be excluded from 1he nroM'- MOris ol this order

¹4 jJissolulion ol i CiC .itid C RTHCO.—Su/ijcct 1o the

"Jhci riovisions or ihis onicr, A

j) u ih of CGC and ( R1HCO ,hjll b; disso'ved with- in winding up and no rerson shall male, assert or ilc any U, uns, demands or proceedings against nn\ of (hem or against a Ouector or officer thereof n his capacity as such Director or officer except in so far as may be necessaiy foi enfoicing the piovisions oi this oidu uncl