TaxTMI 
TaxTMI 
TaxTMI 
1991 (8) TMI 246
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....D. Puri, V.V.Tulzapurkar, T.N. Subramanian and S.H. Kapadia for the Appearing Parties. JUDGMENT The appeal arises upon an order sanctioning, under section 391 of the Companies Act, the scheme of amalgamation between Geoffrey Manners and Co. Ltd. (GM) and John Wyeth (India) Ltd. (JWIL) with some modification. The scheme proposes to transfer a part of GM's undertaking to JWIL. The appeal is filed....
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....igued by the words which we have quoted, we asked Mr. Tulzapurkar, learned counsel for the companies, whether the intention was to absorb these workmen in GM or to retrench them after the effective date. We were fairly told that, after the effective date, it would not be possible for GM to continue to employ them. It is, therefore, clear that the interest of these workmen is likely to be adversely....
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....employment with JWIL and availing of the provisions of the scheme in that regard. He said that if 20% or more of the number of concerned workmen, voting in the manner hereafter mentioned, declined to accept employment with JWIL under the scheme, the companies would give up the scheme. He said that if, on the other hand, the requisite proportion of the concerned workmen were agreeable to go over to....
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.... will not be pressed. If, on the other hand, the requisite proportion of the workmen indicate their willingness to go over to JWIL, the retrenchment benefits that the remaining workmen will receive can be worked out under the aegis of the court. We direct that GM shall give to each of the concerned workmen a notice in writing within seven days from today which shall state that a meeting has been ....