2016 (1) TMI 584

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....r : Mr. Arun Kathpalia, Mr. Rohit Khanna, and Mr. Anirudh Dass, Advocates. Mr. Deepak Aggarwal, Advocate, with Mr. D. K. Singh, Official Liquidator. Rajesh Bindal, J. In this petition, the petitioner companies seek sanctioning of Scheme of Amalgamation (Annexure P-1). It is averred in the petition that the registered office of the petitioner companies is situated at Gurgaon, hence, the....

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....of the Amalgamating Company no. 1 and no secured and unsecured creditor of the Amalgamating Company no.2 and Amalgamated company, no meeting as such was required to be convened. Accordingly, the first motion petition was disposed of. This is the second motion petition. Notice of the petition was directed to be issued to Regional Director, Ministry of Corporate Affairs and the Official Liquidato....

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....vedi, Regional Director, Northren Region, Ministry of Corporate Affairs. The Regional Director in his report has not raised any objection to the Scheme of Amalgamation. In the report filed by the Official Liquidator, the issue has been raised regarding pending litigation by or against the Amalgamating Companies. Learned counsel for the petitioner companies referred to Clause 3.1.2(vi) of the....

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....the Amalgamated Company. The Amalgamating Companies shall be dissolved without being wound up. The Amalgamated Company shall be required to comply with the procedural requirements with regard to all conditions stipulated under the Income Tax Act. The Scheme shall be binding on the Amalgamating and Amalgamated Companies, their respective Shareholders, Creditors and all concerned. Let formal o....