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TMI Blog2015 (1) TMI 1249X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Resinova Chemie Limited (Transferor Company) with Advanced Adhesives Limited (Transferee Company). 2 The Petitioner of Company Petition No. 414 of 2015, i.e., Resinova Chemie Limited, had filed an application in this Court, being Company Application No. 365 of 2015, for dispensing with the convening and holding of the meetings of the Equity Shareholders and the Creditors (whether secured or unsecured) of the said Company. This Court, vide its order dated 27.11.2015, inter alia, dispensed with the convening and holding of the meeting of the Equity Shareholders of the said company, in view of the consent affidavits to the Scheme received from all the Equity Shareholders. This Court, vide its aforesaid order dated 27.11.2015, also dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal Director and the Official Liquidator, in Company Petition Nos. 414 and 415 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, Sandesh , both Ahmedabad Editions, in Company Petition Nos. 414 and 415 of 2015. This Court had dispensed with the publication of the notice in the Gujarat Government Gazette. 5 The Petitioner in Company Petition No. 415 of 2015, filed a Note for Speaking to Minutes for the correction of an inadvertent typing error in the order dated 2.12.2015, passed by this Court in Company Petition No. 415 of 2015, so as to remove the words and to the Official Liquidator from the order dated 2.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies to record the change of name of the Transferee Company. It is further observed by the Regional Director in paragraph 2 (f) of the said common affidavit, that this Court be pleased to direct the Petitioner Companies to undertake the compliance of the Income Tax Act and Rules. 8 Heard Mr. Sandeep Singhi, Advocate for Singhi Co, on behalf of the Petitioner Companies, Mr. Kshitij Amin for Mr. Devang Vyas, Advocate appearing for the Central Government and heard the Official Liquidator. 9 Mr. Sandeep Singhi, learned Advocate appearing for the Petitioner Companies, states that one of the Petitioner Companies, namely Advanced Adhesives Limited, has filed the necessary affidavit in reply dated 16.1.2016 to the common affidavit dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paragraph 18, has submitted that the affairs of the Petitioner Company, viz, Resinova Chemie Limited, have not been conducted in a manner prejudicial to the interest of its members or to the public interest. In respect of the observations made by the official Liquidator in paragraph 19 of its report, the said company has filed its affidavit dated 16.1.2016, ensuring compliance in respect of the same. In respect of the observations made at paragraph 20 of its report, Mr. Singhi submits that the Scheme nowhere prescribes to absolve the statutory liability of the Transferor Company. He further contended that the said aspects are stated on affidavit in paragraph 5. However, it is made clear by this Court that the petitioner company shall ensur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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