9911796707
TMI Blog2016 (7) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... algamation is sanctioned. It is, however, directed that the petitioner Transferor Company shall preserve its books of accounts, papers and record and shall not dispose of the records without the prior permission of the Central Government under Section 396A of the Companies Act, 1956. It is further observed that the petitioner transferor company shall ensure statutory compliance of all applicable laws. It is also observed that the sanction of the present Scheme would not absolve the company from any of its statutory liability, if applicable. X X X X Extracts X X X X X X X X Extracts X X X X ..... e orders dated 2.5.2016, this Court admitted the petitions and directed issuance of notice to the Regional Director in case of both the Companies and notice to the Official Liquidator in case of the Transferor Company. This Court also directed publication of notice of petition in English Daily 'Indian Express' and Vernacular daily 'Sandesh', Ahmedabad Editions. 6. Pursuant to the order dated 2.5.2016, the petitioner has published the notice of petition in Gujarati Daily 'Sandesh' and English Daily "Indian Express' both having circulation in Ahmedabad on 18.5.2016. The Authorised Signatory of both the petitioner companies have filed the affidavit in support of publication of advertisements dated 3.6.2016. 7. In response to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has filed his report dated 9.6.2016. The report of the Official Liquidator confirms that the affairs of the transferor company have not been conducted in a manner prejudicial to the interest of its members or to the public interest. The Official Liquidator, however, has requested this Court to direct the petitioner to preserve its books of accounts, papers and records and not to dispose of the records without the prior permission of Central Government u/s. 396-A of the Companies Act, 1956. The Official Liquidator has further requested to direct the petitioner transferor company to ensure that the sanction of the scheme will not absolve the statutory liability. 11. Having heard Mr. Navin K. Pahwa, learned Counsel for the petitioner Company, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e schedule of properties of the petitioner transferor company as on the date 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 days from the date of the order. 15. The petitioners 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 EForm 21 in addition to physical copy as per relevant provisions of the Act. 16. Filing and issuance of drawn up order is hereby dispensed with and all the authorities to act on a copy of this order along with the Scheme duly authenticated by the Registrar, High ..... X X X X Extracts X X X X X X X X Extracts X X X X
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