2020 (3) TMI 1328

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..... ing of Unsecured Creditor is hereby dispensed with. This Bench hereby directs the Applicant Company to issue notice to all its Unsecured Creditors by Courier/RPAD/Speed Post/Hand Delivery or through Email with a direction that they may submit their representations, if any, to the Tribunal and copy of such representations shall simultaneously be served upon the Applicant Company. Application disposed off.
Mr Rajasekhar V.K., Member (Judicial) For the Applicant : Mr. Hemant Sethi i/b Hemant Sethi & Co. Advocates for Applicant ORDER 1. The Counsel for the Applicant Company states that the present Scheme is a Scheme of Amalgamation ("Scheme") presented under Sections 230-232 and other applicable provisions of the Companies Act, .....

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..... ing of resources (including manpower, management and administration and marketing resources) of the aforesaid companies resulting in, synergies of operations and optimisation of logistics, resulting in more productive utilisation of said resources, savings in cost and operational efficiencies. (e) Strengthening financial position and increased leverage capacity of the merged entity. (f) In view of the aforesaid, the Board of Directors (as hereinafter defined) of the amalgamating company and the Board of Directors of the Amalgamated Company have considered and proposed the amalgamation the entire undertaking and business of the Amalgamating Company with the Amalgamated Company. 6. The counsel for the Applicant Company submits that the A .....

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..... r of Companies, Maharashtra, Mumbai (iii) the Income Tax Department (PAN: AABCD2232P) [Ward and Circle 1(5), Nashik] under whose jurisdiction the assessments are made, pursuant to section 230(5) of the Companies Act, 2013, by RPAD/Speed Post/Email/hand delivery, with a direction that they may submit their representations, if any, within a period of thirty days from the date of receipt of such notice to the Tribunal with copy of such representations shall simultaneously be served upon the Applicant Company, failing which, it shall be presumed that the authorities have no representations to make on the proposals. 10. The Applicant Company shall also serve notice on any other sectoral regulators as may be applicable to the Transferor Company. .....

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