Scheme sanction procedure: tribunal ordered notice publication, service on authorities, objections, and affidavit of service before hearing.

Procedural directions were issued in proceedings under Sections 230 to 232 of the Companies Act, 2013 read with Rule 16 of the Companies (Compromise, Arrangements and Amalgamation) Rules, 2016 for consideration of a scheme. The Tribunal fixed the hearing date, directed publication of notice in specified newspapers, required service on the prescribed authorities and objectors, and mandated filing of an affidavit of service before the hearing. It also provided for objections, if any, to be filed by the authorities and directed compliance with the applicable provisos under Sections 230 and 232, so the scheme petition could proceed for hearing.

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Issues: Whether directions were to be issued for hearing of the petition for sanction of the scheme, publication of notice, service on authorities and filing of objections and proof of service.

Analysis: The application was moved in the course of proceedings under Sections 230 to 232 of the Companies Act, 2013 read with Rule 16 of the Companies (Compromise, Arrangements and Amalgamation) Rules, 2016. The order fixed a date for hearing of the petition, directed publication of notice in specified newspapers, required service of notice on the prescribed authorities and objectors, and mandated filing of an affidavit of service before the hearing. It also provided for filing of objections by the authorities, if any, and for compliance with the applicable provisos under Sections 230 and 232.

Conclusion: Procedural directions for consideration of the scheme were issued, and the matter was listed for hearing on the specified date.

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