COMP/135/2011 22/49 ORDER Essar Shipping Port and Logistic Limited in Re wherein the Court in the decision dated 16.1.2009 in Company Petition No. 280 of 2008 in Company Application No.490 of 2008 considered similar objection and relying on the decision Bombay High Court in case of Zenta P. Limited, in Re, the Court rejected the objection in light of the provisions contained under Section 394 (4)(b) holding that since the provisions contained under Section 394 (4) (b) includes the term “body corporate” the transferor company situated outside India can be amalgamated with the transferee company which is incorporated, registered and situate in India and the only condition would be that amalgamation should not be in violation of provisions contained under the companies act and the Act applicable and prevailing in such foreign Country or any laws prevailing and applicable in India. 6.2. Thus, as held in the aforesaid earlier cases if the transferor company is a “body corporate” as contemplated under Section 394 (4)(b) then though the transferor company is not incorporated and registered in India, it can be amalgamated with the transferee company so long as the transferee company is incorporated and registered and situate in India. However, it would be subject to the condition that such amalgamation must not be in violation of the provision contained under Reserve Bank of India Act, 1934 and / or Foreign Exchange Management Act, 1999 and also the provision of the Companies Act or any other law. Such amalgamation also Downloaded on : Fri Jan 27 19:33:28 IST 2023