9911796707
TMI Blog2012 (12) TMI 155X X X X Extracts X X X X X X X X Extracts X X X X ..... d with the Registrar of Companies within 30 days from receipt of the same. In terms of the provisions of Section 391 and 394 of the Companies Act, 1956 and in terms of the Scheme, the whole or part of the undertaking, the property, rights and powers of the Transferor Company be transferred to and vest in the Transferee Company without any further act or deed. Similarly, in terms of the Scheme, all the liabilities and duties of the Transferor Company be transferred to the Transferee Company without any further act or deed. Upon the Scheme coming into effect, the Transferor Company shall stand dissolved without winding up. It is, however, clarified that this order will not be construed as an order granting exemption from payment of stamp duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Regional Director, Northern Region, and the Official Liquidator. Citations were also directed to be published in Business Standard (English) and Jansatta (Hindi). Affidavit of service and publication has been filed by the petitioners showing compliance regarding service of the petition on the Regional Director (NR); Registrar of Companies, NCT of Delhi Haryana and the Official Liquidator and also regarding Publication of Citations in the aforesaid Newspapers on 07.06.2012, copies of the newspapers cuttings, in original, containing the publications have been filed with the affidavit of service. 4. Pursuant to the notices issued, the Official Liquidator sought information from the Petitioner Companies. Based on the information re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntimated to the Regional Director (NR) that as said funds were received under the automatic route of FDI, and as per the extant policy, no approval of RBI was required for inward remittance of funds from the automatic route. Furthermore, it is submitted that all requisite compliances including filing of relevant forms have been undertaken by the petitioner companies and the requirement as needed post-merger will also be completed by the petitioner companies. 7. In para 6 and 6.1 of the Regional Director (NR) affidavit, relying upon para 4.20 of part III of the scheme the Regional Director, NR has stated that it provides for change of name of Transferee Company to that of Transferor Company postmerger and the Transferee Company be asked to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Consequently sanction is hereby granted to the Scheme of Amalgamation under Section 391 and 394 of the Companies Act, 1956. The petitioner companies will comply with the statutory requirements in accordance with law. Certified copy of the order be filed with the Registrar of Companies within 30 days from receipt of the same. In terms of the provisions of Section 391 and 394 of the Companies Act, 1956 and in terms of the Scheme, the whole or part of the undertaking, the property, rights and powers of the Transferor Company be transferred to and vest in the Transferee Company without any further act or deed. Similarly, in terms of the Scheme, all the liabilities and duties of the Transferor Company be transferred to the Transferee Company ..... X X X X Extracts X X X X X X X X Extracts X X X X
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