2016 (10) TMI 150

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....s Limited, the Transferee Company, filed Company Application No. 340 of 2016 seeking dispensation of the meeting of the Equity Shareholders of the petitioner company. By an order dated 1.8.2016 passed in Company Application No. 340 of 2016, this Court ordered dispensation of the meeting of the equity shareholders. This Court further ordered that this being the transferee company, the meeting of the creditors is not required to be held. 3. Nimba Nature Cure Private Limited, the Transferor Company filed Company Application No. 341 of 2016 seeking dispensation of the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors. By an order dated 1.8.2016 passed in Company Application No. 341 of 2016, this Court ordered dis....

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....mpany for the financial year 2014-15. The second observation is with regard to the comments from the Income Tax Department. According to the Regional Director, the petitioner Companies may be directed to undertake compliance of the Income Tax Act and Rules. 8. In response to the affidavit of the Regional Director dated 26.9.2016, the petitioner- Transferee Company in Company Petition No. 376-377 of 2016 has filed its response by an affidavit dated 29.9.2016 giving explanation to the observations of the Regional Director. With regard to the first observation, it is submitted that the Company has already responded to the query of the Regional Director by sending a detailed letter dated 12.9.2016. The letter dated 12.9.2016 is self explanat....

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.... letter of the Regional Director no adverse remarks are received from the Income Tax Department. Without prejudice, the petitioner companies submit that they would undertake compliance of the Income Tax Act and the Rules made thereunder. 10. The Official Liquidator has filed his report dated 29.9.2016 in the transferor company. The report confirms that the affairs of the transferor company are not conducted in a manner prejudicial to the interest of their members or to the public interest. Besides, the Official Liquidator has requested this Court to direct the petitioner transferor company to preserve their books of accounts, papers and records and not to dispose of the records without the prior permission of Central Government u/s. 396-....