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TMI Blog2019 (12) TMI 1586X X X X Extracts X X X X X X X X Extracts X X X X ..... malgamated Company pursuant to Rule 3(2) of the Companies Rules, 2015 notified under section 133 of the Companies Act - There is no additional requirement for any modification and the Scheme of Amalgamation appears to be fair and reasonable and is not contrary to public policy and not violative of any provisions of law. All the statutory compliances have been made under Sections 230 to 232 of the Companies Act, 2013. The Company Petition is allowed and the Scheme of Amalgamation annexed with the Petitions is hereby Sanctioned. - CAA-137/ND/2019 In CA (CAA)-55/ND/2019 - - - Dated:- 12-12-2019 - Ch. Mohd Sharief Tariq, Member (Judicial) And K.K. Vohra, Member (Technical) For the Petitioner : Mr. Manoj Sharma, Mr. Rajiv Malik. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , under the Companies Act, 1956. The Transferor Company's CIN is U74899DL1994PLC060911. 5. The Transferee being a private company was incorporated. on 09th June 1983 under the Companies Act, 1956. Its CIN is U74899DL1983PTC0158%. 6. The main object of the Transferee Company is to carry on the business of finance and that of investment company and to buy, sell, transfer, dispose of or deal in ail types of shares, bonds, certificates, securities of the Central Government or State Government or Local Authorities. 7. The Board of Directors of the Transferor Companies have approved the present Scheme vide Resolution dated 12th, 130 and 14th February 2019. The other necessary requirements have also been fulfilled as per the Or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if they had arisen to and belonged to the amalgamated company. It is further submitted by the Counsel for the Petitioners that no winding up petitions are initiated/pending against the Transferor Companies and there are no other investigations pending or proceedings initiated under the Companies Act, 2013/1956. 10. Further, the Regional Director, MCA (RD) in its affidavit has sought direction against the Amalgamated Company with the provision of Section 232(3)(i) of the Companies Act, 2013 in regard to fee payable on its revised authorised share capital. For the same effect, undertaking regarding compliance of the provisions of section 232(3)(i) of the Companies Act, 2013 given by applicant company 4/ amalgamated company. The Transfere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on is allowed and the Scheme of Amalgamation annexed with the Petitions is hereby Sanctioned. The Scheme approved shall be binding on the Shareholders, Creditors and employees of the Companies involved in this Scheme. The Appointed date of the Scheme is 01.04.2018. 17. While approving the Scheme as above, it is further clarified that this Order will not be construed as an order granting exemption from payment of stamp duty or taxes or any other charges, if payable, as per the relevant provisions of law or from any applicable permissions that may have to be obtained or, even compliances that may have to be made as per the mandate of law. 18. The Companies to the said Scheme or other person interested shall be at liberty to apply ..... X X X X Extracts X X X X X X X X Extracts X X X X
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