TMI Blog2020 (9) TMI 1004X X X X Extracts X X X X X X X X Extracts X X X X ..... e Petitioner Companies are hereby accepted by the Tribunal. The Petitioner Companies undertake to comply with all statutory requirements, if any, as required under the Companies Act, 2013 and the Rules made thereunder whichever is applicable. The undertakings given by the Petitioner Companies are accepted by this Tribunal. From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy - Since all the requisite statutory compliances have been fulfilled, petition is made absolute in terms of the prayers therein. The Scheme is sanctioned hereby, and the Appointed Date of the Scheme is fixed as 1st April 2019 - application allowed. - CP (CAA) 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stated in paragraphs IV (a) to (g) of the said Report, it appears that the Scheme is not prejudicial to the interest of the shareholders and public. In paragraph IV of the said Affidavit, the Regional Director has stated that: (a) In addition to compliance of AS-14 (IND AS-103) the Resulting Company shall pass such accounting entries which are necessary in connection with the Scheme to comply with other applicable Accounting Standard such as AS-5(IND AS-8) etc. (b) As per Part-A Definitions Clause 1(1.2 1.9) of the scheme, - Appointed Date means 1st day of April, 2019 or such other date as may be approved by the Hon ble National Company Law Tribunal (NCLT) Effective Date means the last of the dates on which certified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner Company(s). (e) In view of the observation raised by the ROC Mumbai. Mentioned at para 14 above Hon ble NCLT may pass appropriate orders/orders as deem fit; (f) As regard the complaints indicated at para 15 above, under the headstatus of complaint as per MCA Portal Screen Shot, it is submitted that Demerged Company or the Resulting Company the petitioners be directed to mention the current position regarding complaints redressed by the company and to file an undertaking accordingly; (g) Repro India Limited ( RIL or the resulting Company or the Resulting Company ) is a listed Company, in view of the provisions of Section 230(5) of the Companies Act, 2013 r/w rule 8 of the Companies (Compromise, Arrangement and A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Regional Director stated in paragraph IV (d) of his report are concerned, the Petitioner Companies states that the approval of the scheme by this Hon ble Tribunal may not deter such authorities to deal with any of the issues arising after giving effect to the scheme. The decision of such Authorities is binding on the Petitioner Company(s). (e) As far as the observation of the Regional Director stated in paragraph IV (e) of his report are concerned, the Resulting Company through their counsel undertakes that the prosecution filed against the Resulting Company will be defend as per the provision of law and also undertakes to provide necessary information and documents regarding the same to the ROC and Regional Director. The Deme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... companies reply, we feel that the ends of justice will be met if we direct that the provisions of section 232(6) of the Companies Act, 2013, shall be applicable to the Scheme. In other words, the Scheme shall be effective from the Appointed Date indicated in the Scheme. 10. The RD, after perusing the reply of the petitioner companies, has submitted a satisfactory report in so far as his observations at paragraph IV(a), and IV(c) to IV(g) are concerned. 11. The clarifications given by the Petitioner Companies are hereby accepted by the Tribunal. The Petitioner Companies undertake to comply with all statutory requirements, if any, as required under the Companies Act, 2013 and the Rules made thereunder whichever is applicable. The under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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