9911796707
TMI Blog2015 (7) TMI 1244X X X X Extracts X X X X X X X X Extracts X X X X ..... earing for the Central Government Cost of ₹ 7,500/- be paid to the Office of the Official Liquidator towards cost for the Transferor Company. The petitioner companies are further directed to lodge a copy of this order, the schedules of immovable assets of the 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. 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 INC-28 in addition to physical ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Transferor company, were dispensed with in view of the written consent letters from all of them being placed on record and there were no secured creditors of the Petitioner Company. Similarly, in case of the Transferee Company vide the said order dated 20th April 2015 passed in the Company Application no. 133 of 2015; the meetings of the Equity Shareholders and Unsecured Creditors were dispensed with in view of the written consent letters, placed on record. There were no Secured Creditors of the Transferee Company. 4. The substantive petitions were admitted vide order dated 29th April 2015. The public notices for the same were duly advertised in the newspapers Indian Express English daily, Ahmedabad edition, and Sandesh , Gujar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by Mr. Shambhu Kumar Agarwal, the Regional Director, North-Western Region, Ministry of Corporate Affairs, whereby some observations are made. 7. The attention of this court is drawn to the common Additional Affidavit dated 8th July 2015, filed by Mr. Nirav Mehta on behalf of the petitioner companies which provide requisite explanation for the said issues raised by the Regional Director. (i) The observations made vide para 2 (a) and (b) refer to the factual aspects of the proposed scheme and they do not need any response from the petitioners. (ii) The observation made vide para 2 (c) of the said affidavit pertains to the absence of the working sheets for calculation of Share Exchange Ratio as worked out by M/s. G. S. Mathur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection to the proposed scheme of arrangement. However, the Petitioner Companies have clarified that they shall comply with applicable provisions of Income Tax Act and Rules. (v) It has been pointed out by the Regional Director that there are no complaints received against any of these companies by the Registrar of Companies and that the Regional Director has no other objections to the scheme. (vi) Thus, considering all the observations of the Regional Director and the submissions and explanations given by the Petitioner Companies, I am satisfied that the issues raised by the Regional Director are not material for the sanction of the scheme and no directions are required to be given to the petitioner companies while granting the sancti ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
