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TMI Blog2020 (6) TMI 723X X X X Extracts X X X X X X X X Extracts X X X X ..... s and their authorised representatives. I have nobody to blame but myself for this. I apologise for the unconscionable delay in pronouncing this order. 2. Learned Authorised Representative for the Applicant Companies states that the present Scheme is in the nature of Amalgamation of Kripa Trading Private Limited (First Transferor Company and Purica Foods Private Limited(Second Transferor Company) with Roop Commercials Private Limited (Transferee Company) and their respective Shareholders. 3. Learned Authorised Representative for the Applicant Companies states that the Board of Directors of each of the Applicant Companies have approved the Scheme of Amalgamation at their respective meeting held on09thOctober,2019. 4. Learned Authorised R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be beneficial for all stakeholders. (d) Benefit of operational synergies to the combined entity and greater leverage in operations, planning and process optimisation. (e) Cost savings are expected to flow from more focused operational efforts, rationalisation and standardisation of administrative expenses. 7. Learned Authorised Representative for the Applicant Companies submits that all the Equity Shareholders of all the Applicant Companies have given their individual Consents on Affidavit to the proposed Scheme. Therefore, it is prayed that the meeting of the Equity Shareholders may be dispensed with. 8. Learned Authorised Representative for the Applicant Companies submits that all the Preference Shareholders of the First Transferor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that they may submit their representations, if any, within a period of thirty days from the date of receipt of such notice to the Tribunal and copy of such representations shall simultaneously be served upon the Applicant Companies, failing which, it shall be presumed that the authorities have no representations to make on the proposals as per rule 8 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Applicant Companies are directed to serve notices to the concerned Income Tax Authorities on the following addresses: (1) PAN:AACCK8717F of the First Applicant Company at Circle 5(2)(2), Aayakar Bhavan, Maharshi Karve Road, Mumbai 400020. (2) PAN:AAGCP5235P of the Second Applicant Company at Circle 3(2)(2), Aaya ..... X X X X Extracts X X X X X X X X Extracts X X X X
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