9911796707
TMI Blog2021 (12) TMI 1156X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Petitioner Companies and also on the Petitioner Companies with effect from the Appointed Date, i.e., 1st day of April, 2020. Application allowed. - CP (CAA) No. 13/ALD/2021 and CA (CAA) No. 15/ALD/2021 - - - Dated:- 6-12-2021 - Rajasekhar V.K., Member (J) And Virendra Kumar Gupta, Member (T) For the Appellant : Krishna Dev Vyas , Advocate ORDER Rajasekhar V. K. , Member ( J ) 1. The Present Joint Company Petition is filed by Petitioner Companies under Sections 230 and 232 and other applicable provisions of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 for sanction of Scheme of Amalgamation of Ajay Realtech (India) Private Limited (Transferor Company N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies of the Transferor Companies and the Transferee Company with pooling and more efficient utilization of their resources, reduction in overheads and other expenses and improvement in various other operating parameters. The amalgamation will result in the formation of a larger and stronger entity having greater capacity for conducting its operations more efficiently and competitively. The Scheme is proposed accordingly and will have beneficial results for the Company, their shareholders, employees and all concerned. 4. The Petitioners have stated that the accounting treatment proposed in the Scheme of Amalgamation is in conformity with the Accounting Standards prescribed under Section 133 of the Companies Act, 2013 as certified by the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Business Standard newspaper, having circulation where registered office of the Petitioner Companies is situated. In compliance thereof, the Petitioner Companies on 27th November, 2021 have filed Affidavit of service and publication, compliance with publication requirements and also service of copies of the petition upon - (a) the Central Government through the office of the Regional Director (Northern Region), Ministry of Corporate Affairs, New Delhi; (b) the Registrar of Companies, Uttar Pradesh, Kanpur; (c) the Official Liquidator, Allahabad; (d) the Income-Tax Departments having jurisdiction over the Petitioner Companies. 9. Pursuant to the said advertisements and notices, the Regional Director (Northern Region), Ministry of Corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and sanctioned. The Petitioner Companies are required to act upon as per terms and conditions of the sanctioned Scheme and the same shall be binding on all the Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Companies and also on the Petitioner Companies with effect from the Appointed Date, i.e., 1st day of April, 2020. 14. While approving the Scheme as above, it is clarified that this order should not be construed as in any way granting exemption from payment of stamp duty (if any, is applicable), taxes (including Income Tax, GST or any other charges, if any, are applicable) and payment in accordance with law or in respect to any permission/compliance with any other requirement which may be specifically requ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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