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The HC directed respondents to process and effectuate the refund claim in favor of the petitioner, arising from the amalgamation of KNS Exports Private Limited with the petitioner, effective from 1 April 2018 as per the NCLT-sanctioned scheme. Since the refund was approved for the amalgamated company but not yet credited, respondents must take appropriate steps to transfer the refund to the petitioner. The petitioner is entitled to an opportunity of hearing before any decision is made. Respondents are required to conclude the matter preferably within four weeks from communication of the order.
The HC directed respondents to process and effectuate the refund claim in favor of the petitioner, arising from the amalgamation of KNS Exports Private Limited with the petitioner, effective from 1 April 2018 as per the NCLT-sanctioned scheme. Since the refund was approved for the amalgamated company but not yet credited, respondents must take appropriate steps to transfer the refund to the petitioner. The petitioner is entitled to an opportunity of hearing before any decision is made. Respondents are required to conclude the matter preferably within four weeks from communication of the order.
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