TMI Blog2021 (7) TMI 444X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, which shall be binding on the Shareholders, Creditors and employees of the Petitioner Companies. The appointed date of the Scheme is fixed as opening hours of 1st April, 2019 for Cochin Surfactants Private Limited (Transferor Company) and Active Char Products Private Ltd. (Transferee Company). Petition disposed off. - CP (CAA)/06/KOB/2020 - - - Dated:- 28-6-2021 - Ashok Kumar Borah, Member (J) For the Appellant : Gokul R.I., PCS ORDER Ashok Kumar Borah, Member (J) (through video conference) 1. Under consideration is the Joint Company Petition filed under Sections 230 to 232 of the Companies Act, 2013 (the Act) and the Rules framed thereunder seeking sanction of the Scheme of Amalgamation of Cochin Surfactants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... like inputs and Activated Carbon and other objects and substances. 6. Under the Scheme of Merger approved and adopted by the Board of Directors of the Transferor and Transferee Companies, it was proposed the Demerger of the Demerged Undertaking of Cochin Surfactants Private Limited (the Demerged Company) to a New Company; and Merger of remaining business of Cochin Surfactants Private Limited (Transferor Company) with Active Char Products Private Limited (Transferee Company). 7. The Petitioner Companies stated the rationale of the Scheme as under: (i) Creating an efficient structure to support and facilitate the ongoing business and expected business growth and development of the Group; (ii) Simplification and/or reduction of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atutory Authorities on 25.02.2021 as per Section 230(5) of the Companies Act, 2013. However, neither the Regional Director, Registrar of Companies, Official Liquidator or Income Tax authorities have filed any representation or observations before this Tribunal till today. Therefore, it is to be presumed that they do not have any objection with regard to the Amalgamation of the Petitioner Companies. 11. The Registry also on verification of the records informed that none has raised any objection against the Amalgamation between the Transferor Company and Transferee Company even after the newspaper publication affected on 03.05.2021 in The Financial Express (English) and The Janayugam (Malayalam) and notices sent to the concerned statut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e certified copy of the Order. 17. All concerned regulatory authorities shall act on receipt of copy of this order along with the Scheme duly certified by the Deputy/Assistant Registrar of this Tribunal. 18. The Transferor Company shall be dissolved without winding up from the date of the filing of the certified copy of this Order with the concerned Registrar of Companies. 19. Upon receiving the certified copy of this Order, the Registrar of Companies, Kerala, is directed to place all documents relating to the Transferor Company with that of the Transferee Company and the files relating to the Transferor Company shall be consolidated with the files and records of the Transferee Company. 20. The Transferee Company is directed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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