https://www.taxtmi.com/caselaws?id=235031 The Court allowed the application for withdrawal of the Company Petition under Section 392 of the Companies Act, 1956. The Scheme of Demerger could not be implemented due to the failure to obtain necessary approvals from regulatory authorities. The Court recalled the previous order sanctioning the Scheme, dismissed the Company Petition as withdrawn, and directed the companies to inform the ROC accordingly. Costs were awarded to the Central Government. The plea to restrict the companies' right to file similar applications for two years was rejected, emphasizing their statutory remedies. en-us Mon, 06 May 2013 00:00:00 +0530 Tue, 16 Jul 2013 15:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235031 The Court allowed the application for withdrawal of the Company Petition under Section 392 of the Companies Act, 1956. The Scheme of Demerger could not be implemented due to the failure to obtain necessary approvals from regulatory authorities. The Court recalled the previous order sanctioning the Scheme, dismissed the Company Petition as withdrawn, and directed the companies to inform the ROC accordingly. Costs were awarded to the Central Government. The plea to restrict the companies' right to file similar applications for two years was rejected, emphasizing their statutory remedies. Case-Laws Companies Law Mon, 06 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235031