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TMI Blog2016 (2) TMI 92X X X X Extracts X X X X X X X X Extracts X X X X ..... obtaining the sanction of the Court to a Scheme of Amalgamation of Kunte Modha Consultants Private Limited, the Transferor Company with Kunte Modha Shah Advisors Private Limited, the Transferee Company, proposed under Sections 391 to 394 of the Companies Act, 1956. 2. It is submitted that both the companies in the proposed Scheme belong to the same group of management. The Transferor Company is primarily engaged in the business of providing advisory and consultancy services in the field of corporate and other allied laws and management/corporate advisory. The Transferee Company is promoted with the objective of carrying on the activity of providing advisory and consultancy services in the field of taxation, corporate and other allied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs, no objections were received by the petitioner or its advocate. The said fact has been confirmed vide the common additional affidavit dated 13th January 2016. 5. Notice of the petition has been served upon the Office of the Official Liquidator for the Transferor Company. The report dated 11th January, 2016 has been filed by the Official Liquidator after taking into account the report of the Chartered Accountant appointed by him out of the panel. It has been observed by the Official Liquidator that the affairs of the Transferor Company have been conducted within its object clauses and it has not been conducted in any manner prejudicial to the interest of the members or public interest, hence the petitioner Transferor Company may be dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel appearing for the Central Government and Mr.Bandish Soparkar, learned advocate for Mrs. Swati Soparkar, learned advocate for the petitioners, on the said observation: (i) The observation made vide Paragraph2( c) pertains to the letter dated 23rd November 2015, sent by the Regional Director to the Income Tax Department inviting their objections, if any. Since the statutory period of 15 days, as envisaged by the relevant circular of the Ministry of Corporate Affairs is over, it can be presumed that the Income Tax Department has no objection to the proposed Scheme of arrangement. The petitioner companies have agreed to comply with the applicable provisions of the Income Tax Act and Rules. In view of the same, no further directions are r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this order and the Scheme, duly authenticated by the Registrar, High Court of Gujarat, with the concerned Superintendent of Stamps, for the purpose of adjudication of stamp duty, if any, on the same within 60 (Sixty) days from the date of the order. (iv) The petitioner companies are directed to file a copy of this order along with a copy of the Scheme with the concerned Registrar of Companies, electronically, along with INC28 in addition to physical copy as per relevant provisions of the Act. (v) Filing and issuance of drawn up order is hereby dispensed with. (vi) All the concerned authorities to act on a copy of this order along with the Scheme duly authenticated by the Registrar, High Court of Gujarat. The Registrar, High Court o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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