TMI Blog2016 (5) TMI 664X X X X Extracts X X X X X X X X Extracts X X X X ..... y shall comply with the procedural requirement as per the Accounting Standard 14 related to “the pooling of interests method” as prescribed under Section 211(3C) of the Companies Act, 1956 and under Section 133 of the Companies Act, 2013 as stated in Clause 10 of the Scheme of Amalgamation and shall also abide by the result of the pending litigation for the Assessment Year 2010-11 and the transfer pricing matter in case it is decided against the company. - Company Petition No.214 of 2015 (O&M) connected with Company Petition No.199 of 2015 - - - Dated:- 11-4-2016 - MR. RAKESH KUMAR JAIN, J. Present:- Mr.Deepak Suri, Advocate, for the petitioner/company. Mr.Deepak Aggarwal, Advocate, with Mr.Manjit Singh, Dy. Official Liqui ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi/NCR Edition as well as in the official gazette of Government of India and was also ordered to be uploaded on the official website of the Official Liquidator. The said order has been complied with and the affidavit of Publication has been placed on record. Pursuant thereto, report by way of an affidavit of A.K. Chaturvedi, Regional Director, Northern Region, Ministry of Corporate Affairs, New Delhi, dated 01.03.2016 has been placed on record, in which it is averred in Para No.9 and 11 as under: - 9. That the deponent states that the Registrar of Companies, Delhi Haryana vide 31 of the report, ROC has stated that it has been observed from the petition that the Board of Directors of the Transferor has approved the proposed Schem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly, in terms of the Section 117(3) read with Section 179(3) of the Companies Act, 2013, the Transferor Company has filed such resolution (e form MGT-14) with the Registrar of Companies on 16.2.2016. Copy of the said Form and challan of payment of efiling fees is enclosed herewith as Annexure A-1 (Colly). 3. That as per Clause 10.1.1 of the scheme, the transferee shall follow the pooling of interests method referred to in Accounting Standard 14/accounting for amalgamation issued by the Institute of Chartered Accountants of India. The petitioner undertakes to comply with the Accounting Standard 14 as prescribed in Clause 10 of the Scheme of Amalgamation. The transferee company had also filed the undertaking by one of its Directo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Transferor Company. In the event of the Transferor Company failing to continue or enforce any proceeding/appeal, the same may be continued or enforced by the Transferee Company, at the cost of the Transferee Company. As and from the Effective date, the tax proceedings shall be continued and enforced by or against the Transferee Company in the same manner and to the same extent as would or might have been continued and enforced by or against the Transferor Company. Learned counsel for the petitioner-Company has also submitted that the Bombay High Court has already sanctioned the Scheme of Amalgamation filed by the Transferee Company vide order dated 18.3.2016 passed in Company Scheme Petition No.38 of 2016. It is further submi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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