The Centre's decision not to object the merger between Harrisons
Malayalam Ltd and three other companies has raised a controversy with the state
government stating that it was not consulted on its views before the Ministry
of Corporate affairs filed a report.
However, the Ministry of Corporate Affairs claimed that
the state government had not filed any objection before it against the the amalgamation between Harrisons Malayala ltd and Enchanting Plantations Ltd, Malayalam Plantations Ltd and
Harmony Plantations Ltd, and that the report was filed based on the papers
available with it.
The revenue department officials said that the government had informed the
Ministry that the company had mooted an amalgamation of its various companies
by suppressing the material fact through forged and concocted documents, a
matter of grave concern and against public interest that warranted
investigation into the affairs of the company under section 237 of the
Companies Act. It was on this basis that the Ministry of Corporate Affairs
Deputy Director M S Pachouri directed the Regional Director and Registrar of
Companies, Kerala, to furnish a report. ''So it is not known why the regional
director now says that the state has not filed an objection,'' they said.
Moreover, the regional director should have inquired
about the initiatives taken to retrieve the lands in their illegal possession,
pending cases and also the criminal cases filed against the company executives.
The regional director also have all the documents with regard to alleged
violations of the Companies Act by the company with respect to the shifting of
the office of the STEL holdings, which could also have been taken into account
before giving such a report.
Source: The Newindian Express
http://epaper.newindianexpress.com/215014/The-New-Indian-Express-Kochi/17012014#page/4/1
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