2016 (1) TMI 622

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.... Advocate, with Mr. D. K. Singh, Official Liquidator. Rajesh Bindal, J. In this petition, the petitioner companies seek sanctioning of Scheme of merger (Annexure P-1). It is averred in the petition that the registered office of the petitioner companies is situated at Gurgaon, hence, the petition is within the jurisdiction of this Court. Main objects of the Transferor/ petitioner no. 1 ....

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....of the meeting was also directed to be published in the newspapers and official gazette. Vide order dated 20.7.2015, the report of the Chairman dated 5.6.2015 was taken on record and the first motion petition bearing CP No. 53 of 2015 was disposed of accordingly. This is the second motion petition. Notice of the petition was directed to be issued to Regional Director, Ministry of Corporate Affa....

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....sion therefor has been made in the Scheme. Learned counsel for the Official Liquidator referred to the pending litigation while stating that regarding taxes the provisions have been made only for the period after the effective date in clause 10 of the Scheme. Specific provision for the period before the effective date has not been made in the Scheme regarding taxes. After hearing learned cou....

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....re are no investigations or proceedings pending against them under the Act. The provisions of Competition Act, 2002 are not applicable to the Scheme. For the reasons afore-stated and on consideration of all the relevant facts, compliance of procedural requirements contemplated under the Act and the relevant Rules, on due consideration of the reports of Regional Director, Ministry of Corporate A....