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2019 (10) TMI 1219 - Tri - Companies LawVoluntary revision of Financial Statements of the Petitioner Company - sanction of the Scheme of Arrangement - HELD THAT:- On perusal of the petition and the documents annexed along with the petition, this Tribunal is of the view that Petitioner Company could not carry out the effects of the Scheme of Arrangement and Restructuring in the nature of demerger and transfer of Gandhidham Unit of Sumilon Industries Limited with the Petitioner Company with effect from the Appointed Date of demerger i.e. 01.04.2017, for circumstances beyond their control. Under such circumstances, the petition is allowed. The Petitioner Company is allowed to file the revised Financial Statements for the Financial Year ended 31st March 2018 to the extent of incorporating the effect of the Scheme of Arrangement as approved by this Tribunal.
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