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TMI Blog2016 (4) TMI 1467X X X X Extracts X X X X X X X X Extracts X X X X ..... erest in the petitioner company. The said scheme as framed is not violative of any statutory provisions. The scheme as formulated is fair, just, sound and is not contrary to any public policy or public interest. No proceedings appear to be pending under the provisions of Sections 231 to 237 of the Companies Act, 1956. All the statutory provisions appear to have been complied with - there shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anctioning the scheme of arrangement and compromise (in short the Scheme) between the petitioner company, viz., Updater Services Private Limited and its shareholders, with effect from the Effective date, i.e., the date on which the sanctioned Scheme is filed with the Registrar of Companies, Chennai, Tamil Nadu by the petitioner company. The scheme of arrangement and compromise is annexed as Annexu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... without modification, the scheme conceived by the petitioner company involving arrangement and compromise with their shareholders. 4. Upon notice being issued, the Regional Director, Ministry of Company Affairs has filed his report stating that he has no objection to the scheme being sanctioned. 5. I have perused the scheme filed along with the company petition. I find that the Scheme is not prej ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner company, as per the procedure laid down under Sections 391 to 393 of the Companies Act, which are duly complied with. 6.1. It is made clear, that this order will not be construed as an order granting exemption from payment of stamp duty or, taxes or, any other charges, if any, payable, as per the relevant provisions of law or, from any applicable permissions that may have to be obtained or, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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