9911796707
TMI Blog2016 (1) TMI 1520X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 dispensed with the meeting of the Creditors (whether secured or unsecured) of the said company. 3 The Petitioner of Company Petition No. 415 of 2015, i.e., Advance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 2.12.2015, passed in Company Petition No. 415 of 2015. This Court, vide its order dated 8.12.2015, corrected the order dated 2.12.2015 passed in Company Petition No. 415 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is 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 dated 8.1.2016, filed by the Regional Director. 10 In respect of the observations made by the Regional Director at paragraph 2(e) of the common affidavit, the Petitioner Company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 ensure the compliance of all applicable terms and upon the sanctioning of the Scheme of Amalgamation the petitioner company shall not be absolved from any of its statutory liabilities. 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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