2016 (5) TMI 495

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....oth the petitions. 3. It is submitted that the petitioners of both the petitions preferred Company Application No.68 of 2016 (by the Transferee Company) seeking prayers for the dispensation of the meetings of the Equity Shareholders, Secured Creditors, Unsecured Creditors and Unsecured Loan Holders. In Company Application No.69 of 2016 by the Transferor Company, prayers were made for the dispensation of the meetings of the Equity Shareholders, Unsecured Creditors and Unsecured Loan Holders. Upon considering the submissions and documents placed on record, this Court, vide separate orders dated 22.02.2016, allowed the prayers and disposed of the applications. The said orders are produced at Exhibit "D". 4. The Petitioners, thereafter, p....

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....ctively. 8. It is submitted that, in respect of the common affidavit of the Regional Director, at paragraph 2(c) it is submitted that no specific comment has been received from the Income Tax Department about the proposed Scheme. It is further submitted that, no reply has been received from the Income Tax department in this regard. At paragraph 2(d) it is submitted that, there are no complaint against the Petitioner companies, including any complaint/ representation against the Scheme of Amalgamation of the petitioner companies has been received. 9. It is submitted that, the report of the Official Liquidator states at paragraph 16, that the affairs of the Petitioner company have not been conducted in a manner prejudicial to the intere....