https://www.taxtmi.com/caselaws?id=280470 The Court held that the petition was not liable to be transferred to the National Company Law Tribunal (NCLT) as the judgment on a part of the composite petition was reserved before the rules came into force. The Scheme of Arrangement involving demerger and transfer of assets was sanctioned, with necessary safeguards. All statutory and procedural requirements were complied with, including publication of notices. The appellants were directed to comply with legal requirements under FEMA, RBI regulations, and accounting standards. The Court addressed objections raised by the Regional Director and granted liberty to seek a review. The final order sanctioned the scheme, instructed compliance, and allowed for modification applications. en-us Fri, 31 Mar 2017 00:00:00 +0530 Tue, 07 May 2019 06:02:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280470 The Court held that the petition was not liable to be transferred to the National Company Law Tribunal (NCLT) as the judgment on a part of the composite petition was reserved before the rules came into force. The Scheme of Arrangement involving demerger and transfer of assets was sanctioned, with necessary safeguards. All statutory and procedural requirements were complied with, including publication of notices. The appellants were directed to comply with legal requirements under FEMA, RBI regulations, and accounting standards. The Court addressed objections raised by the Regional Director and granted liberty to seek a review. The final order sanctioned the scheme, instructed compliance, and allowed for modification applications. Case-Laws Companies Law Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280470