2012 (12) TMI 311

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....f Demerger of Estate Division of BHASKAR REFRACTORIES AND SW PIPES PRIVATE LIMITED (Demerged Company); into B N B S CEMENTS AND PRODUCTS PRIVATE LIMITED (Resultant Company). 2 The registered offices of the Petitioner Demerged Company and Resultant Company are situated at New Delhi, within the jurisdiction of this Court. 3 Details with regard to the date of incorporation of Demerged Company and Resultant Company, their authorized, issued, subscribed and paid up capital have been given in the Petition. 4 Copies of the Memorandum and Articles of Association as well as the latest audited Accounts as at 31st March, 2011 of the Petitioner Demerged Company and Resultant Company have also been enclosed with the Petition. 5 Copies of the....

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....siness Standard' (Hindi, Delhi Edition). Affidavit of Service and Publication has been filed by the Petitioners showing compliance regarding service of the Petition on the Regional Director, Northern Region and also regarding publication of citations in the aforesaid newspaper on October 26, 2012. Copies of the newspaper cuttings, in original, containing the publications have been filed along with the Affidavit of Service. 10 In response to the notices issued in the Petition, Mr. Rakesh Chandra, Learned Regional Director, Northern Region, Ministry of Corporate Affairs has filed his Affidavit dated 1st November, 2012. Relying on Clause 8 (a) of the Scheme of Arrangement, he has stated that, upon sanction of the Scheme of Arrangement, all ....

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.... Private Limited- the Resultant Company (being wholly owned subsidiary of the De-merged Company). Also both the Companies are controlled by the members of the same family. (ii) The copy of the Scheme of Arrangement was provided to all the shareholders and the creditors of the De-merged Company and the Resultant Company and was approved by them. (iii) That the Scheme of Arrangement is to take effect from 1st day of April 2011 and complete balance sheet of the Demerged Company as at 31st March 2011 was approved by the shareholders of Demerged Company and filed along with the First Motion Application filed with this Hon'ble Court. (i) That the Ld. Regional Director vide their letter bearing no. 6/145/T-1/2011/3179 dated 8th August 201....