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TMI Blog2020 (1) TMI 1490X X X X Extracts X X X X X X X X Extracts X X X X ..... tion is sanctioned hereby, and the appointed date of the Scheme is 1st January, 2019 - Application allowed. - C. P. (CAA)/3904/2019 In C. A. (CAA)/248/2019 - - - Dated:- 20-1-2020 - Mr Rajesh Sharma And Mr Bhaskara Pantula Mohan, JJ. For the Petitioner(s): Advocate Hemant Sethi i/b. Hemant Sethi Co., Advocates For Regional Director: Ms Rupa Sutar, Deputy Director ORDER Bhaskara Pantula Mohan, J. 1. Heard the learned Counsel for the Petitioner Companies. No objector has come before the Hon ble National Company Law Tribunal ( Tribunal ) to oppose the Petition nor has any party controverted any averments made in the Petition. 2. The sanction of this Tribunal is sought under Section 230 to 232 and other applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the Rules made there under whichever is applicable. The said Scheme is accepted. 7. The Regional Director filed its Report on 04.11.2019. The Petitioner Companies filed their Affidavit in Rejoinder on 25.11.2019. The observations made by Regional Director along with reply of the Petitioner Companies and comments from the Regional Director vide the Supplementary Report dated 29.11.2019 are reproduced hereinbelow: Observations of Regional Director vide Report dated 04.11.2019 Reply of Petitioner Companies Comments of Regional Director vide Supplementary Report dated 29.11.2019 (a) The Petitioners under provisions of section 230(5) of the Companies Act, 2013 have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Regional Director is concerned, the Petitioner Companies submits that the admitted petition was submitted on 15th day of November, 2019 for the record of the Regional Director, Western Region Mumbai. Chairman s report was annexed as Annexure J to the Petition submitted. Further, the minutes of order of admission of the Petition was submitted on 18th day of November, 2019 for the record of the Regional Director, Western Region Mumbai. Satisfactory (c) The Hon ble NCLT may kindly direct to the Petitioners to file an undertaking to the extent that the Scheme enclosed to the Company Application and the scheme enclosed to the Company Petition are one same and there is no discrepancy or deviation. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide circular no. F. No. 7/12/2019/CL-I dated 21.08.2019 issued by the Ministry of Corporate Affairs In so far as observations made in paragraph IV (e) of the Report of Regional Director is concerned, the Petitioner Companies undertakes that they would comply with the provisions and requirements clarified vide circular no. F. No 7/12/2019/CL-I dated 21- 08-2019 issued by the Ministry of Corporate Affairs. Satisfactory (f) Petitioner Company have to undertake to comply with section 232(3)(i) of Companies Act, 2013 where the transferor company is dissolved, the fee, if any, paid by the transferor company on its authorised capital shall be set off against any fees payable by the transferee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompanies Act 2013 and the rules thereof by filing the requisite forms with the Registrar of Companies for the purpose of change of name of the Transferee Company to Menon and Menon Limited as mentioned in Para 15 of the Scheme. Satisfactory 8. The Official Liquidator has filed his report in the Scheme Application No. 248 of 2019, inter alia, stating therein that the affairs of the Transferor Company have been conducted in a proper manner. 9. From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy. 10. Since all the requisite statutory compliances have been fulfilled, Company Scheme Petition No. 3904 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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