TMI Blog2016 (11) TMI 1191X X X X Extracts X X X X X X X X Extracts X X X X ..... mited, be amended at paragraph 2 by replacing the correct company number is granted. Paragraph 4 in the Company Petition No. 138 of 2016 filed by the Charm Trading and Investment Private Limited is also permitted to be amended in order to incorporate the correct authorized share capital. The Scheme at Clause 2(g) shall consequently be amended. Permission to amend the Scheme at Clause No. 9(a) to (f) to incorporate the correct share exchange ratio is granted and considering the above, consequently, the Scheme with the above modifications, is hereby sanctioned. The prayers made in the petitions are granted. - COMPANY PETITION NO. 133, 134, 135, 136, 137, 138, 139 of 2016, COMPANY APPLICATION NO. 98, 99, 100, 101, 102, 103, 104 of 2016 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndian Express and the Gujarat daily newspaper in Jai Hind both, Ahmedabad Editions. It further directed that notice be served on the Regional Director in all the petitions and the service of notice on the Official Liquidator in the petitions filed by the Transferor Companies. The notice of publication in the Government Gazette came to be dispensed with. The petitions were kept for hearing on 15.06.2016. 6. Pursuant to the orders of admission passed in the separate petitions, the petitioners effected service to the Regional Director and the Official Liquidator and published the notice of the petition in the newspapers. A common affidavit of compliance came to be filed on 08.06.2016. Notice to the Regional Director came to be served on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said clause, accordingly. 8.1. The second observation made at paragraph 2(e), in respect of the Transferor Company M/s. Charm Trading and Investment Private Limited, is that it is wrongly mentioned that the authorized capital of the Company is ₹ 10,00,000/( Rupees Ten Lacs only), while as per the balance sheet as on 31.03.2015, the authorized capital is ₹ 1,00,00,000/( Rupees One Crore). 8.2. The third observation made at paragraph 2(f) is that as per the Master Data on MCA 21 of the petitioner Transferor Company No. 4 namely M/s. Progressive Invatrade Private Limited, the Company number is wrongly given as 0415498 in paragraph 2 of the Company Petition No. 136 of 2016, instead of the correct company number which is 015501 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld seek to amend the petition of M/s. Progressive Invatrade Private Limited by incorporating and replacing the correct company number. 9.3. In respect of the observation made at paragraph 2(g), the petitioners submitted that they undertake to abide by and comply with the Income Tax Act and Rules and in case of any demand arising in the future, the Resultant Company shall comply with the law. 9.4. The petitioners also undertake to preserve the books and papers and records which shall not be disposed of without the prior permission of the Central Government. It is submitted that there shall be statutory compliance of all the applicable laws, upon the sanctioning of the Scheme. 10. The Official Liquidator has filed individual reports ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The prayers made in the petitions are granted. 12. The petitioners are directed to pay costs of ₹ 7,800/for each of the petitions to the Mr. Devang Vyas, learned Assistant Solicitor General and the petitioners of the Transferor Companies are directed to pay the costs of ₹ 7,500/each to the Official Liquidator. 13. Filing and issuance of drawn up orders are dispensed with. All concerned authorities to act on a copy of this order along with the Scheme and schedule of the assets, duly authenticated by the Registrar, High Court, Gujarat. The Registrar, High Court of Gujarat, shall issue the authenticated copy of this order along with Scheme and schedule of the assets within 7 days of passing of this order. The petitions are d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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