TaxTMI 
TaxTMI 
2015 (10) TMI 1094
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....he facts, which are necessary for the disposal of the writ petition are that the shareholders of M/s.Selvaraaj Tex Private Limited are also shareholders in the petitioner's Company, both being held by the same family. A decision was taken to transfer some of the assets of M/s.Selvaraaj Tex Private Limited to the petitioner Company and towards this end a demerger scheme was floated and the scheme was sanctioned by the Company Court in C.P.Nos.153 and 154 of 2010 on 08.04.2011. In terms of the sanction scheme, the appointed date is 01.04.2009 and the effective date is 06.05.2011. 4. In the meantime, a dispute arose while implementing the demerger scheme and an application was filed in Comp.A.No.258 of 2012 in C.P.No.153 of 2010 and an orde....
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....8.04.2011, for registration and the representation was only for mutation of ownership in the office records on the basis of the transformation of the status from the partnership firm into a private limited company, based on the scheme of demerger and since there was no provision for mutation of entries under the Registration Act, the same was not considered. Therefore, it is submitted that till 2014, the copy of the order was never sought to be registered in the manner known to law. 8. Further, it is submitted that the Judgment passed in O.S.A.No.359 of 2013, dated 04.04.2014, is not an Judgment of appeal against the order, dated 08.04.2011 and no appeal was preferred as against the said order. Therefore, the petitioner sought for regist....
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.... the decree or order was made, or, where it is appealable, within four months from the day on which it becomes final. 12. Further, in terms of Section 25(1) of the Registration Act, four months is allowed on payment of fine and the said provision reads as follows: 25. Provision where delay in presentation us unavoidable (1) if, owing to urgent necessity or unavoidable accident, any document executed, or copy of a decree or order made, in India is not presented for registration till after the expiration of the time herein before prescribed in that behalf, the Registrar, in cases where the delay in presentation does not exceed four months, may direct that on payment of a fine not exceeding ten times the amount of the proper registration....
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....ing documents-subject to the provisions contained in sections 24, 25 and 26, no document other than a will shall be accepted for registration unless presented for that purpose to the proper officer within four months from the date of its execution: Provided that a copy of decree or order may be presented within four months from the day on which the decree or order was made, or, where it is appealable, within four months from the day on which it becomes final. The above provision makes it clear that all documents except will are to be presented before a proper officer and the same shall be presented within four months from the date of its execution. If we consider the date on which the final decree was passed by the Subordinate Court, as ....
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....ved by the Company Court by passing an order, dated 08.04.2011, the appointed date being 01.04.2009 and the effective date being 06.05.2011. In the said company petition, an application was filed in Comp.A.No.258 of 2012 by the petitioner, which is the demerged company, wherein prayer was made to direct the respondents to allot the shareholders of the first applicant 1,78,494 equity shares of the respondent in consideration for 16,22,668 shares of the first applicant held by the deponent of the affidavit and 27,500 equity shares of the respondent in consideration for the 2,50,000 shares of the first applicant held by the wife of the deponent of the affidavit in accordance with the order of sanctioning the scheme, dated 08.04.2011. Thus, the....