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TMI Blog2017 (1) TMI 829X X X X Extracts X X X X X X X X Extracts X X X X ..... naissance RTW Asia (P) Limited (Demerged company) and M/s.RC Colours Private Limited (Resulting company), with effect from 01.01.2016, as per the procedure laid down under Sections 391 to 394 of the Companies Act, 1956. Needless to say, the procedure prescribed will be duly complied with. - C.P.Nos. 273 and 274 of 2016 - - - Dated:- 3-1-2017 - Rajiv Shakdher, J. For the Petitioners : Mr.Vidhya Shankar for M/s.Ramani Shankar Mr.K.Raju , CGSC for Regional Director Ministry of Company Affairs ORDER 1. These Company Petitions are preferred under Sections 391 to 394 of the Companies Act, 1956 for seeking a sanction of the Scheme of arrangement (Demerger) (in short the Scheme) concerning M/s.Renaissance RTW Asia (P) Limited (in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.00 lakhs. 5.2. The affidavits of the equity shareholders of the demerged and company giving their consent to the scheme is appended as Annexure 'F series' to C.P.No.273 of 2016. 5.3. By order dated 30.06.2016 in C.A.No.534 of 2016, this Court dispensed with the convening, holding and conducting of the meeting of the shareholders of the demerged company to consider the proposed Scheme, inter alia, for the reason that its equity shareholders had given their consent to it. 6. It is stated that there are no secured creditors as well as unsecured creditors as far as the Resulting Company is concerned. A certificate of the Chartered Accountant confirming the said position is appended as Annexure 'G' to C.P.No.274 of 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... W Asia (P) Limited (Demerged company) and M/s.RC Colours Private Limited (Resulting company), with effect from 01.01.2016, as per the procedure laid down under Sections 391 to 394 of the Companies Act, 1956. Needless to say, the procedure prescribed will be duly complied with. 12. It is made clear, that this order will not be construed as an order granting exemption from payment of stamp duty or, taxes or, any other charges, if any, payable, as per the relevant provisions of law or, from any applicable permissions that may have to be obtained or, even compliances that may have to be made, as per the mandate of law. 13. The learned Senior Central Government Standing Counsel is entitled to a fee of ₹ 5,000/- from the Demerged comp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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