TMI Blog2020 (9) TMI 475X X X X Extracts X X X X X X X X Extracts X X X X ..... ied copy of this Order alongwith a copy of Scheme of Arrangement with the concerned Registrar of Companies, electronically inform INC-28, as per the relevant provisions of the Companies Act, 2013, within 30 days from the date of issue of the order by the Registry, duly certified by the Deputy/Assistant Registrar of this Tribunal - The Petitioner Companies to lodge a copy of this Order, duly certified by the Deputy/ Assistant Registrar of this Tribunal, along with a copy of the Scheme, with the concerned Superintendent of Stamps, for the purpose of adjudication of stamp duty payable within 60 days from the date of receipt of copy of the Order. - CP (CAA)/936/ MB.V/2020 CA (CAA)/897/MB.V/2020 - - - Dated:- 14-8-2020 - Smt. Suchitra Kanupa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hFebruary, 2020. 5. The Learned Advocate appearing on behalf of the Petitioner Companies states that the Appointed Date of the Scheme is 31stMarch, 2019. 6. The Learned Advocate for the Petitioner Companies states that the First Petitioner Company is engaged in business of trading and marketing of all kinds of medicines, pharmaceutical products and related items. The Second Petitioner Company is engaged in manufacture of pharmaceuticals and medicinal products. The Third Petitioner Company is engaged in business of manufacture and wholesale of pharmaceuticals and medicinal products. 7. The Learned Advocate for the Petitioner Companies states that the demerger of the Demerged Undertaking Nos. 1 and 2 into the Resulting Company Nos.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2(2.2 2.5) of the Scheme: Appointed Date for the purpose of this Scheme means 31 March, 2019. Effective Date means the date on which the Scheme shall be deemed to be effective from the Appointed Date. Record Date means the date on which the list of shareholders shall be determined by the Board of the respective companies for issuance of shares as consideration to the shareholders pursuant to this Scheme. In this regard, it is submitted that Section 232 (6) of the Companies Act, 2013 states that the scheme under this section shall clearly indicate an appointed date from which it shall be effective and the scheme shall be deemed to be effective from such date and not at a date subsequent to the appointed date. Howe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompanies), it is submitted that the same is subject to compliance with the provisions of section 13 Section 14 of the Companies Act, 2013 or other applicable provisions of the Act r/w relevant rule(s) of the Company (Incorporation) Rules, 2014. (g) In view of the observation raised by the ROC Mumbai, mentioned above, Hon ble NCLT may pass appropriate orders/ orders as deem fit. 11. As far as the observation in paragraph IV (a) of the Report of the Regional Director is concerned, the Petitioner Companies undertakes, through their counsel that the Petitioner Companies will pass such accounting entries which are necessary in connection with the Scheme to comply with all the applicable Accounting Standards. 12. As far as the obser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of the Tribunal dated 27th April, 2020 passed in Company Scheme Application No. CA (CAA) No.897/MB.V/2020 have been duly issued. The compliance report dated 22ndJune, 2020 in respect of the said compliances was filed with the Tribunal. None of the Petitioner Companies are in receipt of any objection by any of the Creditors till date. The Petitioner Companies further undertakes and states that the interest of all the Creditors shall be protected and remain unaffected by the Scheme. 14. As far as the observation in paragraph IV (d) of the Report of the Regional Director is concerned, the Petitioner Companies undertakes, through their counsel, that the Scheme enclosed to the Company Application and Company Petition are one and same and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... site Secured Creditors and Unsecured Creditors of respective Petitioner Companies. Also, there are no Secured Creditors in the First Petitioner Company. None of the Petitioner Companies are in receipt of any objection by any of the Creditors till date. Further, the Petitioner companies undertake to ensure that the interests of the creditors shall be protected and remain unaffected. 18. The observations made by the Regional Director have been explained by the Petitioner Companies in Para 11 to 17 above. Moreover, the Petitioner Companies undertake to comply with all the statutory requirements, as may be required under the Companies Act, 2013 and the Rules made thereunder whichever is applicable. 19. From the material on record, the Sch ..... X X X X Extracts X X X X X X X X Extracts X X X X
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