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2016 (1) TMI 669

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..... g on Petitioner Company-1/Amalgamating Company, Petitioner Company-2/ Amalgamating Company and Petitioner Company-3/Amalgamated Company their respective Shareholders and creditors, and all concerned. Let the formal order of sanction of Scheme of Amalgamation be drawn in accordance with law and certified copy of the same be filed with the Registrar of Companies within 30 days from the receipt of the same. Copy of this order be published in 'Indian Express' (English), 'Jansatta' (Hindi) both Delhi/NCR editions and Official Gazette of Haryana. Any interested person shall be at liberty to apply to this Court for any directions as per law. It is made clear that in case any demand in future is made by the Income Tax from the Petitione .....

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..... The notice of the present petition was issued to the Official Liquidator and Regional Director, Ministry of Corporate Affairs, Noida, and it was further directed to cause publication in the newspapers namely 'Indian Express' (English), 'Jansatta' (Hindi) both Delhi NCR Editions as well as in the official Gazette of Haryana. The affidavit of publication has also been filed. As per report of Mr. A. K. Chaturvedi, Regional Director, Ministry of Corporate Affairs, Noida, it is borne out that since the details of assets of liabilities to be transferred will become the part of the formal Orders of this Court, therefore there is no purpose of shifting the appointed date and showing appointed date as 1.4.2014 will not have any ad .....

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..... of the Transferor Company had not been conducted in a manner not pre judicial to the interest of its Shareholders, Members, Creditors or to the Public interest. As per report of the Official Liquidator, it has been stated that the Chartered Accountant has pointed out that Petitioner/Amalgamating Company No.1 had obtained some loans from the Holding Company, which are interest free loans, and thus there is no repayment schedule and is re-payable on demand and further the Petitioner/Amalgamating Company-2 has been legally advised that the said amount is likely to be deleted. Similarly, during the financial year 2012-13 the Company had received a demand of ₹ 46,158/- under Section 143(3) of Income Tax Act, 1961 and for the subsequent ye .....

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