9911796707
TMI Blog2023 (3) TMI 1541X X X X Extracts X X X X X X X X Extracts X X X X ..... eme, the Petitioner Companies shall serve a copy of scheme afresh upon all noticee, highlighting the changes effected therein distinctively. That the Applicant Companies shall file affidavit of service in and compliance of serving the notices to all the Regulatory Authorities as stated above and do report to this Tribunal that the directions regarding the issue of notices have been duly complied with. - Mr. Prabhat Kumar Hon ble Member (Technical), Mr. Kishore Vemulapalli Hon ble Member (Judicial) For the Applicant : Mr. Hemant Sethi, a/w Ms. Tanaya Sethi and Devanshi Sethi, i/b. Hemant Sethi Co. ORDER Per: Prabhat Kumar, Member (Technical) 1. This Bench is convened via Video Conferencing. 2. That the present Scheme of Amalgamation is pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny of INR 10 each for every 1000 (One Thousand) equity shares of the Transferor Company of INR 10 each, fully paid up. 7. The Authorized, Issued, Subscribed and Paid-up Capital of the First Applicant Company/ Transferor Company as on 31st March, 2022 is as under: Share Capital Amount in INR Authorised Share Capital: 10,00,000 equity shares of Rs 10/- each 1,00,00,000/- Issued, Subscribed and Paid-up Capital: 4,27,000 equity shares of Rs 10/- each 42,70,000/- 8. The Authorised, Issued, Subscribed and Paid-up Capital of the Second Applicant Company/ Transferee Company as on 31st March, 2022 is as under: Share Capital Amounts in INR Authorised Share Capital: 10,00,000, Equity shares of Rs 10/- each 1,00,00,000/- Issued, Subscribed and Paid-up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cond Applicant Company. The respective Applicant Companies have obtained a certificate from Chartered Accountant certifying the list of Creditors. 14. The Learned Counsel for the Applicant Companies submits that, as far as the Unsecured Creditors of the Applicant Companies are concerned, the present Scheme is an arrangement between the Applicant Companies and their respective Shareholders as contemplated under Section 230(1)(b) of the Companies Act, 2013 and not in accordance with the provisions of Section 230(1)(a) of the Companies Act 2013, as there is no Compromise and/or Arrangement with the Creditors, as no sacrifice is called for. The rights of the Creditors will not be affected as the assets of the Transferee Company post sanctioning ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Road, Mumbai 400 020, Phone No. 022-22017654 [Email: [email protected]]; (iv) Jurisdictional GST Authority(s) (proper officer), within whose jurisdiction such companies are assessed to tax under GST law; (v) Ministry of Corporate Affairs; (vi) Any other Sectoral/ Regulatory Authorities relevant to the Petitioner Companies or their business. under the provisions of Section 230 (5) of the Companies Act, 2013 and Rule 8 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. 16. The Transferor Company is also directed to serve the Copy of Scheme upon Official Liquidator, pursuant to section 230(5) of the Companies Act, 2013 and as per Rule 8 of the Companies (Compromises, Arrangements and Amalgamations) Rules, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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