2016 (3) TMI 465

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....fordable Home Strategy Limited. 2 It is submitted on behalf of the petitioner that DBS Affordable Home Strategy Limited, the Transferee Company, being the holding company, had earlier filed Company Application No. 25 of 2016, seeking an order that no separate proceedings in respect of the Transferee holding company are required to be undertaken under the provisions of Section 391(2) of the Act. This Court, by an order dated 19.1.2016, passed in Company Application No. 25 of 2016, allowed the said application. Accordingly, no separate petition on behalf of the Transferee Company is filed. 3 Survandan Developers Private Limited, the Transferor Company, filed Company Application No. 26 of 2016, seeking dispensation of the meetings of the....

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....iance of the Income Tax Act and Rules. 7 In response to the affidavit of the Regional Director dated 4.3.2016, the petitioner has filed an affidavit dated 10.03.2016 in which the petitioner has stated that in the event of any demand or liability being created, the same shall be borne by the Transferee Company, as per the Scheme. It is further stated that the petitioner company would undertake the compliance of the Income Tax Act and the Rules made thereunder. 8 The Official Liquidator has filed his report dated 3.3.2016. The report confirms that the affairs of the Transferor Company are not conducted in a manner prejudicial to the interest of its members or to the public interest. The Official Liquidator, however, has requested this C....