TaxTMI 
TaxTMI 
TaxTMI 
2017 (6) TMI 409
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.... modification, a Scheme of Arrangement in the nature of Demerger of Pharma Undertaking of Colourtex Industries Private Limited (Demerged Company) to Sachin Health Care Private Limited (Resulting Company). 3. The applicant is a private limited company. The issued subscribed and paid up share capital of the applicant company is Rs. 1,00,000/- in the form of 10,000 equity shares of Rs. 10/- each. It is stated in the application that the Board of Directors of the applicant company approved the proposed Scheme of Arrangement, which is at Annexure "D" to the application. It is also stated in the application that the accounting treatment specified in the Scheme is in conformity with the accounting standards prescribed under Section 133 of the Com....
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....ly, voting by equity shareholders of the Applicant-company to the scheme shall be carried out through (i) postal ballot and e-voting; and (ii) electronic voting system or ballot or polling paper at the venue of the meeting to be held on 15th June, 2017. (3) At least one month before the date of the aforesaid meetings, an advertisement about convening of the said meetings, indicating the day, date, place and time as aforesaid, shall be published in "Indian Express" English Daily and Gujarati Daily "Sandesh", having circulation in Surat. The publication shall indicate the time within which copies of the Scheme shall be made available to the concerned persons free of charge from the registered office of the Company. The publication shall also....
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....of equity shareholders, preference shareholders, unsecured creditors and secured creditors of the applicant company. (7) The Chairperson appointed for the aforesaid meeting shall issue advertisements and send out notice of the meeting referred to above. The Chairperson is free to avail the services of the applicant company or any agency for carrying out the aforesaid directions. The Chairperson shall have all powers under the Articles of Association of the applicant company and also under the Rules in relation to the conduct of meetings, including for deciding any procedural question that may arise at the meeting or adjournment thereof proposed at the said meeting, amendment(s) to the aforesaid scheme or resolutions, if any, proposed at th....
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.... Tribunal on the result of the meeting in Form CAA 4, verified by his affidavit, as per Rule 14 of the Companies (CAA) Rules, 2016 in Form CAA 4 within 7 (seven) days after conclusion of the meeting. (13) In compliance of sub-section (5) of Section 230 and Rule 18 of the Companies (CAA) Rules, 2016, the applicant company shall send a notice of meeting under sub-section (3) of Section 230 read with Rule 6 of the Companies (CAA) Rules, 2016 in Form No. CAA.3 along with a copy of the Scheme of Amalgamation, explanatory statement and the disclosures mentioned under Rule 6 to (i) the Central Government through the Regional Director, North Western Region, (ii) The Registrar of Companies, and (iii) The Income Tax Authorities stating that the repr....