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TMI Blog2011 (3) TMI 1480X X X X Extracts X X X X X X X X Extracts X X X X ..... f amalgamation is sanctioned. - COMPANY PETITION NOS. 327 & 328 OF 2010 - - - Dated:- 11-3-2011 - VINOD K. SHARMA, J. R. Subramanian and Ms. R. Meenakshi for the Parties. JUDGMENT These company petitions are filed by the transferor company and the transferee company to sanction the scheme of amalgamation so as to be binding on all the equity shareholders and creditors of the transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amalgamation complies with the provisions of section 2(19AA) of the Income-tax Act, 1961. As per the scheme, the entire undertaking and the assets and liabilities of the transferor company are to be taken over by the transferee company, as set out in the scheme of amalgamation. 6. All the shareholders of the transferor and transferee companies have given consent affidavit, consenting to the sch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, Chennai submitted his report as under : "I, K. Pandian, s/o. Shri S. Krishnan, Indian, Hindu, aged about 58 years having my office at Shastri Bhavan, Vth Floor, 26, Haddows Road, Chennai-600 006, do hereby solemnly affirm and sincerely state as follows : (1)I am the Regional Director, Southern Region, Ministry of Corporate Affairs, Chennai and I am authorised to file this affidavit on behal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany is required to file Form No. 5 with the registration fees by complying with the provisions of sections 94 and 97 of the Act. (5)I further submit that paragraph 12.1 of the scheme protects the interest of all employees of the transferor company and paragraph 18 of the scheme provides for dissolution of the transferor company, upon amalgamation." 11. The objection raised by the Regional Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plete code in itself, but it is intended to be in the nature of a single window clearance . Therefore, no separate fees need be paid to the Registrar." 12. There is no objection to the sanctioning of the scheme from the creditors or shareholders. After going through the scheme of amalgamation, this court does not find any objectionable features, in sanctioning the scheme. Accordingly, the schem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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