TMI Blog2016 (1) TMI 672X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, Accounting Standards issued by the Institute of Chartered Accountants of India. The Scheme shall be binding on the Transferor and Transferee Companies, their respective Shareholders, Creditors and all concerned. Let formal order of sanction of the Scheme of Amalgamation be drawn in accordance with law and its certified copy be filed with the Registrar of Companies within 30 days from the date of receipt thereof. A notice of the order be published in the 'Indian Express' (English) and 'Des Sewak' (Punjabi) and in the official Gazette of Government of Punjab. Any person interested shall be at liberty to apply to the Court for any direction(s) as per law. Learned counsel for the petitioner companies states th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e held on 4.7.2015. Mr. Hemant Bassi and Mr. Birender Singh Khehar, Advocates, were appointed as Chairman and Co-chairman, respectively, for convening the meeting of equity shareholders. Vide order dated 20.7.2015, the report dated 10.7.2015 was taken on record. As per report, out of 21 equity shareholders, 20 equity shareholder were present and voted either in person or through proxy in favour of the scheme, constituting 99.30% in value of the total paid up share capital and 95.24% in number, have given their consent. The list of equity shareholders, who have attended the meeting, along with their consents are annexed with the report. Notice of the petition was directed to be issued to Regional Director, Ministry of Corporate Affairs an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set off of losses. As regards acceptance of deposits from the persons other than the directors, learned counsel for the petitioners has filed additional affidavit of Mr. Dushyant Kumar Kapil, Director of the Transferor Company, dated 21.9.2015. It has been stated therein that the amount stands repaid on 14.11.2014 i.e. within one year as per provisions of Section 74(1) of the Companies Act, 2013 (for short, 'the 2013 Act'). It has been further stated that the statement of deposits has already been filed in requisite Form DPT-4 with the Registrar of Companies vide SRNC 64384738 dated 20.9.2015, with additional fee. Hence, the objection raised by the Official Liquidator does not survive. Further considering the provisions of Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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