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2019 (10) TMI 1315 - Tri - Companies LawDirections for the convening, holding and conducting of the meeting of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Transferor Company and Transferee Company - sections 230 to 232 of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and the NCLT, Rules, 2016 - HELD THAT:- This Bench directs, in accordance to Section 230(5) of the Companies Act, 2013, to issue notices to the Regional director, Ministry of Corporate Affairs, ROC concerned, Income Tax Authorities, the Official Liquidator as far as the Transferor companies are concerned and such other sectoral regulators or authorities if applicable. The Official Liquidator is directed to appoint an auditor for the purposes of preparing the reports. In case the Scheme is exempted under the Competition Act, 2002, an affidavit to this effect is to be given. Otherwise, notice to CCI may also be issued. The Transferor Company and the Transferee Company are Private Limited Company. Hence. there is no need to issue notices to SEBI and the Stock Exchanges - The authorities are directed to make objection/representations, if any within 30 days from the date of receipt of the notice. In the event that no objections or representations are made within the stipulated timeframe, it shall be presumed that they do not have any objections. Application disposed off.
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