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2016 (12) TMI 126 - GUJARAT HIGH COURT

2016 (12) TMI 126 - GUJARAT HIGH COURT - TMI - Scheme of Arrangement in the nature of amalgamation - Held that:- Pursuant to the report of the Official Liquidator, it is ordered that, the petitioner company shall preserve its books of accounts, papers and records and not dispose of the records without the prior permission of the Central Government as per the provisions of Section 396(A) of the Companies Act, 1956, and shall not be absolved from any statutory liability. Considering the above, it .....

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dispensed with. - COMPANY PETITION NO. 384, 385 392 of 2016, In COMPANY APPLICATION NO. 357, 358, 359 of 2016 - Dated:- 25-11-2016 - SMT. ABHILASHA KUMARI, J. FOR THE PETITONER : MR PAVAN S GODIAWALA, ADVOCATE FOR THE RESPONDENT : MR KSHITIJ AMIN FOR MR DEVANG VYAS, ADVOCATE COMMON ORAL ORDER 1. Heard Mr.Pavan S. Godiawala, learned advocate for the petitioner and Mr.Kshitij Amin, learned Central Government Standing Counsel for Mr.Devang Vyas, learned Assistant Solicitor General of India for Reg .....

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pany Application No. 357 of 2016 by the Transferee Company, Company Application No. 358 of 2016 and Company Application No. 359 of 2016 by the Transferor Companies, seeking appropriate directions for the dispensation of the meetings of different classes of members pursuant to obtaining consent letters from them. This Court, vide separate orders dated 08.08.2016, allowed the prayers and the meetings, as required to be held under the provisions of the Section 391(1) of the Companies Act, 1956, wer .....

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me to be admitted on 24.08.2016. Notices were ordered to be served on the Regional Director in all the petitions and on Official Liquidator in the Company Petitions filed by the Transferor Companies. Further, the notice of the petitions was ordered to be published in the English daily newspaper Business Standard , Ahmedabad edition and the Gujarati daily newspaper Gujarat Guardian , Surat edition. Notice of publication in the Government Gazette came to be dispensed with. The petitions were kept .....

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fidavit of compliance dated 26.09.2016 came to be filed. 7. Upon service of notice, the Regional Director filed a common affidavit dated 17.11.2016. The Official Liquidator filed separate reports in the month of November, 2016, in the petitions of Transferor Companies. There is one observation in respect of the compliance of Accounting Standard 14, as observed in the affidavit of Regional Director at paragraph 2(d), against which the Petitioner of Company Petition No. 392 of 2016 i.e. Transferee .....

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