2016 (3) TMI 603

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....ith Cube Construction Engineering Limited. 2 It is submitted on behalf of the petitioner that Cube Construction Engineering Limited, the Transferee Company, being the holding company, had earlier filed Company Application No. 3 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 06.01.2016, passed in Company Application No. 3 of 2016, allowed the said application. Accordingly, no separate petition on behalf of the Transferee Company is filed. 3 Sphere Cube Infrastructure Private Limited, the Transferor Company, filed Company Application No. 2 of 2016, seeking dispensation of the....

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....ated in the report that the petitioner company may be directed to undertake compliance of the Income Tax Act and Rules. 7 In response to the affidavit of the Regional Director dated 10.03.2016, it is submitted by the learned counsel on behalf of the petitioner that the report of the Regional Director, itself, shows that pursuant to the letter of the Regional Director, no adverse remarks, within the stipulated period of time, are received from the Income Tax Department. As per the circular dated 15.1.2014 of the Ministry of Corporate Affairs, it is stipulated if no response is received from the Income Tax Department within a period of fifteen days from the receipt of the notice by the Regional Director, it may be presumed that the Income ....