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TMI Blog2016 (2) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... STANDING COUNSEL FOR MR DEVANG VYAS, ADVOCATE ORAL ORDER 1 These petitions have been filed by the two Petitioner Companies for sanctioning of the Scheme of Amalgamation of Mediscribes Solutions (India) Private Limited (Transferor Company) with White Pearl Web Private Limited (Transferee Company). 2 The Petitioner of the Company Petition No. 381 of 2015, i.e., Mediscribes Solutions (India) Private Limited, had filed an application in this Court being Company Application No. 338 of 2015, for dispensing with the convening and holding of the meetings of the Equity Shareholders, Sole Secured Creditor and Sole Unsecured Creditor of the said Company. This Court, vide its order dated 3.11.2015, inter alia, dispensed with the convening ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial Liquidator in Company Petition No. 381 of 2015. This Court also directed the publication of the notice of the hearing of the petition in the English daily newspaper, Indian Express and the Gujarati daily newspaper, Divya Bhaskar , both Ahmedabad Editions, in Company Petition Nos. 381 and 382 of 2015. This Court had dispensed with the publication of the notice in the Gujarat Government Gazette. 5 Pursuant to the order dated 5.11.2015, the Petitioners of Company Petition Nos. 381 and 382 of 2015 have published the notice of the hearing of the petition in the English daily newspaper, Indian Express and in the Gujarati daily newspaper, Divya Bhaskar , both Ahmedabad Editions, on 24.11.2015. The affidavits of service, on behalf of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uidator. 8 Mr. Sandeep Singhi, learned Advocate appearing for the Petitioner Companies, states, that the one of the Petitioner Companies, namely White Pearl Web Private Limited, has filed the necessary affidavit in reply dated 16.1.2016 to the common affidavit dated 8.1.2016, filed by the Regional Director. 9 In respect of the observations made by the Regional Director at paragraph 2(c) of the common affidavit, the Petitioner Company, in paragraph 3 of its reply, has stated that the Transferee Company, in the meeting held on 11.1.2016 has approved the increase in the authorised share capital of the Transferee Company from ₹ 1,00,000/to ₹ 1,01,00,000/. It is further stated that the Transferee Company has filed the necessary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er Company, in paragraph 5 of its reply, has stated that the Scheme is in compliance with the provisions of Section 2(1B) of the Income Tax Act, 1961. Without prejudice to the above, the Petitioner Company undertakes to comply with the provisions of the Income Tax Act and the Rules. 13 In response to the notice to the Official Liquidator in Company Petition No. 381 of 2015, the Official Liquidator has filed his report dated 21.12.2015. On perusal of the said report, the Official Liquidator, at paragraph 20, has submitted that the affairs of the Petitioner Company, viz, Mediscribes Solutions (India) Private Limited, have not been conducted in a manner prejudicial to the interest of its members or to the public interest. In respect of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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