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TMI Blog2018 (4) TMI 1993X X X X Extracts X X X X X X X X Extracts X X X X ..... holders and creditors. The Composite Scheme of Arrangement, which is at Annexure - H to the Petition, is hereby sanctioned and it is declared that the same shall be binding on the Petitioner Companies, namely, Safal Constructions Private Limited and BSafal Infraheights Private Limited, their Equity and Preference Shareholders, Secured Creditors and Unsecured Creditors and all concerned under the Scheme - this petition is allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... al further directed the Petitioner Companies to issue statutory notice in Form No. CAA3 to (i) the Central Government through the Regional Director, North Western Region;(ii) the Registrar of Companies, Gujarat; (iii) the Income-tax authorities; (iv) the Official Liquidator, asking them to make representations, if any, within a period of 30 days from the date of receipt of such notice, and in case no representation is received by the Tribunal within the stipulated period of 30 days, it would be presumed that the authorities have no representation to make. The Petitioner Companies in compliance of the aforesaid order served the notices to the Statutory Authorities. The Petitioner Companies have also filed proof of service of notice vide affi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oof of giving notice to the Regional Director, Registrar of Companies, Official Liquidator and the Income Tax Department. 8. Heard learned Advocate, Ms. Dharmishta Raval with Mr. Yuvraj Thakore, Advocate, for M/s Raval & Raval, Advocates, for the petitioner companies. 9. The Regional Director in his representation stated that, as per the report of the Registrar of Companies, there is no complaint/ representation against the Scheme of Amalgamation of the Petitioner Companies. 10. The Regional Director further stated in the representation that the proposed Scheme is not prejudicial to the interest of shareholders of the Petitioner Companies and the public at large. 11. The Official Liquidator, in respect of Amalgamating Company, in the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... editors. 14. In the result, this petition is allowed. The Composite Scheme of Arrangement, which is at Annexure - H to the Petition, is hereby sanctioned and it is declared that the same shall be binding on the Petitioner Companies, namely, Safal Constructions Private Limited and BSafal Infraheights Private Limited, their Equity and Preference Shareholders, Secured Creditors and Unsecured Creditors and all concerned under the Scheme. 15. Filing and issuance of drawn up orders are dispensed with. All concerned authorities to act on a copy of this order along with the Scheme duly authenticated by the Registrar of this Tribunal. The Registrar of this Tribunal shall issue the certified copy of this order along with the Scheme immediately. 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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