2015 (11) TMI 1868

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....K. Jha, Adv., Mr. P.K. Roy, Adv., Mr. A. Bhattacharyya, Adv., Mr. M.K. Singh, Adv., Mr. V. Kedia, Adv. ORDER This is an application for sanctioning of the Scheme of Amalgamation. The following order, after taking into account the various objections raised, was suggested by learned Senior Counsel for the petitioners and not objected to by learned counsel appearing for the Central Governmen....

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....pending in respect of the assessment of the petitioner nos.5 and 7. The Income Tax Department had raised an objection against any scheme of amalgamation of these two companies. Learned Counsel appearing on behalf of the petitioners submits that after the issue of the letter dated 6th February 2015, an assessment order has been passed by the Income Tax Department in respect of both the petitioner n....

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....the petitioners submits that the shares had been allotted in the year 2013-14 and all the shareholders who were allotted such shares were duly given notice of the meetings and the meetings were attended by the new allottees which would be evident from the report of the Chairpersons of the respective companies. A revised share valuation report was also prepared by the valuer after taking into consi....

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....edures were then duly followed and after completion of the Techno Economic Viability Study and other formalities, a proposal for restructuring of debt of Concast Group was forwarded by the lead bank, namely State Bank of India to the Corporate Debt Restructuring Cell of the Reserve Bank of India. The Corporate Debt Restructuring Cell of Reserve Bank of India, after its scrutiny, had granted its pr....