2019 (1) TMI 1983 - Tri - Companies Law

Seeking condonation of delay of 22 days in filing Company Scheme Petition - compromise or arrangement - Rule 15 of the Amalgamation Rules - HELD THAT - Rule 15 sub-clause 3 provides that where the company fails to present the petition during the prescribed period, then with the leave of the Tribunal, Petition can be filed on payment of cost. There is a delay of 22 days in filing Company Scheme Petition - Application allowed under Rule 15(3) of Amalgamation Rules, subject to payment of Rs.2,000/- as cost, which shall be paid in the account of Prime Minister National Relief Fund and allow the Petitioner to file the Company Scheme Petition within seven days from today.

Summary

The Tribunal allowed MA 1340/2018 for condonation of a 22-day delay in filing a Company Scheme Petition under Rule 15(3) of the Amalgamation Rules. The petitioner was directed to pay Rs. 2,000 as cost to the Prime Minister National Relief Fund and file the petition within seven days.