9911796707
TMI Blog2005 (9) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... ame to be considered by this Court in the proceedings of Company Petition No. 52 of 2005 and ultimately as per the judgment dated 11-5-2005 passed by this Court (Coram : K.A. Puj, J.) the scheme was sanctioned. The pertinent aspect which may be relevant and shall be dealt with hereinafter would be that at the time when this Court (Coram: K.A. Puj, J.) delivered the judgment, it was undertaken on behalf of the transferee Company, which is the petitioner herein to pay the requisite fees as well as the stamp duty on the scheme being sanctioned by the Court. 3. It appears that thereafter the Company Application No. 162 of 2005 was preferred by the petitioner Company for holding the meeting of the existing lenders for the purpose of consider ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncerned to the present petition. 6. On behalf of the Central Government, Mr. Malkan, learned Standing Counsel had placed on record the communication received by him from the Registrar of Companies, Gujarat State on the basis of the letter issued by the Regional Director of the Central Government, Ministry of Company Affairs dated 26-8-2005. The perusal of the said communication shows that so far as the item referred to Clause Nos. 3 and 4 in the notices to the lenders and for representing the participants at the meeting of the lenders are concerned, the same is not of much consequence in view of the fact that the scheme is approved and by the requisite statutory majority of the lenders in number and also in comparison to the amount of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of the earlier order passed by this Court for sanctioning the scheme of amalgamation. Mr. Soparkar, ld. counsel for the petitioner submits that in his submission the objections raised on behalf of the Central Government are not genuine. However, without making any issue on the said points, he states that the application is made to the Collector and Supdt. of Stamps, Gandhinagar dated 16-6-2005 for adjudication of the exact stamp duty which the company would be required to pay. He placed on record the copy of the letter submitted before the Collector and Supdt. of Stamps, Gandhinagar. As mentioned in the said letter, as per the applicant, the Stamp duty payable would be of Rs. 23,65,669 subject to final adjudication by the competent auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... produce the proof of the payment of stamp duty and necessary fee by way of Demand Draft by 9-9-2005. 5.SO to 12-9-2005 for further orders. 7. Thereafter, an affidavit dated 12-9-2005 is filed by Shri Mukund Sapre, authorised Signatory of the petitioner Company for compliance to the order dated 7-9-2005 passed by this Court, which shows that the amount of stamp duty of Rs. 23,65,669, subject to the further adjudication is deposited with the Collector and Additional Superintendent of Stamps, Gandhinagar by demand draft and together with Form No. 5 for increase of the authorised share capital, the demand draft of Rs. 25 lakhs is also submitted as payment of the fees with the Registrar of Companies, Gujarat State. Therefore, it appears th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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