9911796707
TMI Blog2021 (1) TMI 813X X X X Extracts X X X X X X X X Extracts X X X X ..... between the companies and its shareholders and creditors by way of Amalgamation between Precise Laboratories Private Limited (hereinafter referred to as the Transferor Company') with Northern Aromatics Limited (hereinafter referred to as the Transferee Company'). 2. The Transferor Company namely, Precise Laboratories Private Limited is a Company incorporated on 22.06.1989 under the provisions of Companies Act, 1956 with CIN No. U74899DL1989PTC036702, having its registered Office E-515, Humsub Co-Op. Group Housing Society Ltd. Plot No. -14, Sector-4, Dwarka, New Delhi, South West Delhi - 110 075. 3. The Transferee Company namely, M/s. Northern Aromatics Limited is a Company incorporated on 27.12.1979 under the provisions of Compani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, Registrar of Companies, NCT of Delhi & Haryana, Regional Director (Northern Region) MCA, Income Tax Authorities, Official Liquidator, and to such other Objector(s), if any, and also for publication of the said scheme. The directions were issued vide Order dated 11.03.2020, requiring both the Companies to serve notices to the Central Government, Registrar of Companies, NCT of Delhi & Haryana, Regional Director (Northern Region) MCA, Income Tax Authorities, Official Liquidator, and also to carry out necessary publication in English and Hindi newspapers, with respect to the said scheme. 10. It is submitted by the Petitioners that incompliance of the above stated directions, the Petitioners duly filed an Affidavit of Service on 24.05.2020 b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Rs. 68,299 for the Assessment Year 2009-10. However, no demand is pointed out against the Transferor Company. 15. That on 03.07.2020, this Bench has observed that IT Department can continue to take measures for recovery of the demand against the Transferee Company. 16. In view of the foregoing, upon considering the approval accorded by the Members and Creditors of all Companies to the proposed Scheme, and no sustainable objections having been raised by the Office of the Regional Director, Income Tax Department or any other interested party, there does not appear to be any impediment in granting sanction to the Scheme. Accordingly, in sequel to the above, sanction is hereby granted to the Scheme of Amalgamation under section 230-232 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fits, entitlements, incentives and concessions under incentive schemes and policies that the Transferor Companies is entitled to, including under customs, excise, service tax, VAT, sales tax, GST and entry tax and income tax laws, subsidy receivables from Government, grant from any governmental authorities, direct tax benefit/exemptions/deductions, shall, to the extent statutorily available and along with associated obligations, stand transferred to and be available to the Transferee Company as if the Transferee Company was originally entitled to all such benefits, entitlements, incentives and concessions; (iii) All contracts of the Transferor Companies which are subsisting or having effect immediately before the Effective Date, shall sta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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