Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2016 (2) TMI 205 - GUJARAT HIGH COURT

2016 (2) TMI 205 - GUJARAT HIGH COURT - TMI - Scheme of Arrangement - Held that:- As on the basis of the material on record that the present Scheme of Arrangement would be in the interest of the shareholders and creditors of all the companies as well as in the public interest, therefore, the same deserves to be sanctioned. - COMPANY PETITION NO. 406 of 2015, COMPANY APPLICATION NO. 359 of 2015, COMPANY PETITION NO. 407 of 2015, COMPANY APPLICATION NO. 360 of 2015 - Dated:- 7-1-2016 - SMT. ABHILA .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

394 of the Companies Act, 1956. 2 It has been submitted that both the companies in the proposed Scheme belong to the same group of management viz. Urmin group. Both the Companies are engaged in the business of packers. The Board of Directors of these Companies proposed the amalgamation of these companies so as to achieve consolidation of the group s business and operations and streamlining the current organizational structure. The petitions provide the details of the anticipated advantages. 3 It .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

companies, which were admitted on 01st December 2015. The notice for the hearing of the petitions was duly advertised in the Ahmedabad editions of the English daily newspaper Indian express and the Gujarati daily newspaper Sandesh , dated 14th December 2015. The publication in the Government gazette was dispensed with, as directed in the said orders. Pursuant to the said publication in the newspapers, no objections were received by the petitioner or its advocate. The said fact has been confirmed .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s of the Transferor Company have been conducted within its object clauses and have not been conducted in any manner prejudicial to the interest of the members or the public interest, hence the petitioner Transferor company may be dissolved without following the process of winding up. However, the Official Liquidator has sought directions to preserve the books of accounts, papers and records and not to dispose of the same without the prior permission of the Central Govt. as per the provisions of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n served upon the Central Govt. and Mr. Kshitij Amin, learned Central Government Standing Counsel has appeared for Shri Devang Vyas, learned Assistant Solicitor General of India, on behalf of the Central Govt. A common affidavit dated 01st January 2016 has been filed by Mr. Shambhu Kuimar Agarwal, the Regional Director, NorthWestern Region, Ministry of Corporate Affairs, whereby some observations are made. 8 The attention of this Court is drawn to the common Additional Affidavit dated 05th Janua .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ee Company should pay the necessary fees including other fees and charges for alteration of its name in compliance with Section 13 of the Companies Act, 2013 and name availability guidelines. In this regard, it has been submitted that the company shall pay the applicable fees and shall follow the guidelines for name availability as stated in Clause 16.2 of the Scheme. (II) The next observation of the Regional Director, vide paragraph 2(d), pertains to the letter dated 15th December 2015, sent by .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the petitioner companies in this regard. 10 Considering above fact and circumstances and taking into account the contentions raised in the affidavits and counter affidavits of the party, this Court is of the view that the observations made by the Regional Director, Ministry of Corporate Affairs, no longer survive. This Court, therefore, concludes on the basis of the material on record that the present Scheme of Arrangement would be in the interest of the shareholders and creditors of all the com .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version