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2020 (9) TMI 362 - NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCHDispensation of meetings of the Secured Creditors of the Applicant Nos. 1 and 2 and Unsecured Creditors in the Applicant Companies Merger of Companies - scheme of arrangement - transfer of shares - HELD THAT:- Considering the fact that there are a large number of Creditors, it would be appropriate to issue notices to them. It is ordered as follows: a. The Applicant Company shall serve the notice upon – (i) Regional Director (Western Region), Ministry of Corporate Affairs, Mumbai; (ii) Registrar of Companies, Maharashtra, Mumbai; (iii) Income Tax Authority within whose jurisdiction the Applicant Companies' assessments are made, complete with PAN of the Company concerned i.e. for Applicant No. 1 (PAN No: AAACI7165B) and for Applicant No. 2, (PAN No: AACCE6013C) Circle 14(1)(2), Mumbai; for Applicant No. 3 (PAN No: AABCK6887D) Circle 12(3)(1), Mumbai; and for Applicant No. 4 (PAN No.: AACCE2954N) Ward 14 (1)(4), Mumbai; pursuant to section 230(5) of the Act and as per Rule 8 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. If no response is received by the Tribunal within 30 days of the date of receipt of the notice it will be presumed that the Authorities have no objection to the Scheme. b. The Applicant No. 1, Applicant No. 2 and Applicant No. 3 shall serve notice of Application along with a copy of the Scheme upon the Official Liquidator, High Court, Bombay pursuant to Section 230(5) of the Act. The Tribunal hereby appoints M/s. K. K. Naulakha & Co., Chartered Accountants having address at 101, Yusuf Building, 43, M. G. Road, Flora Fountain, Fort, Mumbai-400001, [Contact: 022-22852300/10/20, Email: knaulakha@rediffmail.com] with remuneration of ₹ 2,00,000/- (Rupees Two lakh only) to assist the Official Liquidator in scrutinizing the books of Accounts of the Applicant No. 1, Applicant No. 2 and Applicant No. 3. The Official Liquidator shall submit its report/ representation to this Tribunal. If no response is received by the Tribunal from the Official Liquidator within a period of thirty (30) days, it would be presumed that the Official Liquidator has no objection to proposed Scheme as per Rule 8 of the Rules. c. The Applicant Companies shall issue notice to all the Secured Creditors of Applicant Nos. 1 and 2 and Unsecured Creditors of the Applicant Companies by Courier/Registered Post/Speed Post/Hand Delivery at their last known address or through their registered Email Such Creditors may submit their representations to the Tribunal, if any, within a period of thirty (30) days from the date of receipt of such notice. It shall be the responsibility of the Applicant Companies to ensure that all the Creditors as indicated above are put on notice regarding the Scheme, so that they may take informed decision thereon. d. The Applicant Companies shall file compliance report with the Registry on the directions given in this Order in lieu of customary affidavit of service, due to the prevailing lockdown, for proving service of notice on the regulatory authorities and the Creditors as stated above.
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