2016 (12) TMI 1836 - HC - Companies Law

Sanction of proposed scheme of amalgamation - Ministry of Corporate of Affairs appears to have fowarded a copy of the scheme to the Income Tax Department on 6/14.10.2016 with a request to forward their comments/observations/objections, if any, on the proposed scheme of amalgamation within 15 days, but till date no objection has been received from the said authority. Under such circumstances, it is presumed that the Income Tax Department has no objection to the sanction of the scheme. HELD THAT - In the event, the petitioners supply a legible computerized printout of the scheme and the Schedule of assets in acceptable form to the department, the department will append such computerized printout, upon verification, to the certified copy of the order without insisting on a handwritten copy thereof - Petition disposed off.

Summary

The Calcutta High Court sanctioned the proposed scheme of amalgamation as the Registrar of Companies and the Income Tax Department had no objections. The petitioners were directed to provide a legible computerized printout of the scheme to the department. Costs of 900 GMs were to be paid to the Central Government within two weeks. Case CP No. 864 of 2016 was disposed of.