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TMI Blog2013 (10) TMI 451X X X X Extracts X X X X X X X X Extracts X X X X ..... edia Private Limited (hereinafter referred to as Demerged company ) and their respective shareholders and creditors. 2. The registered office of the Petitioner-Transferee company is situated at New Delhi, within the jurisdiction of this Court. The registered office of the demerged company is situated at Hyderabad, outside the jurisdiction of this court. 3. The details of the date of incorporation of Petitioner-Transferee company, its authorized, issued, subscribed and paid up capital have been set out in the petition. 4. The Copies of the Memorandum and Articles of Association as well as the latest audited annual accounts of the Petitioner-Transferee company have also been placed on record. 5. The copies of the resolutions passed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he direction of this Court, meeting of the unsecured creditors was convened on 2nd March 2013. The chairperson appointed in the said meeting submitted their report whereby it has been stated that the proposed Scheme was approved by the unsecured creditors of the Petitioner-Transferee company unanimously. 9. The Petitioner-Transferee company had thereafter filed the present petition seeking sanction of the Scheme. By order dated 19th March 2013, notice of the petition was directed to be issued to the Regional Director ( RD ). Citations were also directed to be published in The Indian Express (English) and Jansatta (Hindi). An affidavit of service and publication has been filed by the Petitioner showing compliance regarding service of the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , therefore no shares will be issued by the Petitioner pursuant to the approval of the Scheme either to the Indian shareholders or the foreign company. He further submits that the Petitioner-Transferee company shall make all the necessary compliances as may be applicable, as per the requirement of RBI under FEMA. 13. Further, the RD, in para 6 of the said affidavit has also observed that the case should be decided subject to the outcome of the Hon ble High Court of Andhra Pradesh. 14. In reply to the abovesaid observation, the said rejoinder filed by the Petitioner-Transferee company states that the High Court of Andhra Pradesh has already approved the present Scheme by order dated 23rd April 2013. Copy of the said order has been filed al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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