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2017 (1) TMI 192 - HC - Companies LawScheme of amalgamation - Held that:- Considering the approval accorded by the shareholders and creditors of the Transferor Company to the proposed scheme; the affidavit filed by the Regional Director, Northern Region and the report filed by the Official Liquidator, having not raising any objection to the proposed scheme, there appears to be no impediment to the grant of sanction to the proposed scheme. Consequently, sanction is hereby granted to the proposed scheme. The Transferor Company will comply with the statutory requirements in accordance with law. Upon the sanction becoming effective from the appointed date of Amalgamation, i.e. 1st August, 2016, the Transferor Company shall stand dissolved without undergoing the process of winding up. A certified copy of the order, sanctioning the scheme, be filed with the ROC, within thirty (30) days of its receipt. Notwithstanding the above, if there is any deficiency found or, violation committed qua any enactment, statutory rule or regulation, the sanction granted by this court to the scheme will not come in the way of action being taken, albeit, in accordance with law, against the concerned persons, directors and officials of the Transferor Company and the Transferee Company. It is made clear, that this order shall not be construed as an order granting exemption, inter alia, 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.
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