TMI Blog2016 (10) TMI 284X X X X Extracts X X X X X X X X Extracts X X X X ..... ve, it is ordered that the scheme at Exhibit “C” to the petitions is hereby sanctioned and the prayers as prayed in all the Company Petitions are allowed. The petitioners are directed to pay the fees of ₹ 7,500/for each petitions to Mr. Devang Vyas, learned Assistant Solicitor General and petitioner of Transferor Companies are directed to pay the fees of ₹ 7,500/each to the Official Liquidator. - COMPANY PETITION NO. 257 of 2016 In COMPANY APPLICATION NO. 217 of 2016 TO COMPANY PETITION NO. 260 of 2016 In COMPANY APPLICATION NO. 219 of 2016 - - - Dated:- 30-9-2016 - MR. R.M.CHHAYA, J. FOR THE PETITONER : MR PAVAN S GODIAWALA, ADVOCATE FOR THE RESPONDENT : MR DEVANG VYAS, ASSISTANT SOLICITOR GENERAL with MR KSHITI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n and Gujarat Guardian, Gujarati daily, Surat edition and notice of publication in Government Gazette came to be dispensed with. Accordingly, the petitioners complied with the order of publication and service. The affidavit came to be filed for publication and service of notices. 3. The Regional Director upon service filed common affidavit dated 24.8.2016 and Official Liquidator filed separate reports dated 1.9.2016 in the petitions of Transferor Companies. There is one observation in regard to increase in authorized share capital in Transferee Company as observed in the affidavit of Regional Director at Paragraph 2(c) against which the Transferee Company filed affidavit dated 26.9.2016 and stated at Paragraph 2 that, scheme adequately c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compliance of all the applicable laws upon sanctioning the scheme. 4. Pursuant to the report of the Official Liquidator, it is ordered that the petitionerCompany shall preserve its books of accounts, papers and records and not dispose of the records without prior permission of Central Government as per the provisions of Section 396(A) of the Companies Act, 1956 and shall not be absolved from any statutory liability. It is ordered that the scheme necessarily contains the clause 11(a) and 11(b) and hence observations as made in the common affidavit of the Regional Director is misplaced one and the Transferee petitioner explained and clarified the issues in the affidavit. Considering the above, it is ordered that the scheme at Exhibit C t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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