IN RE Vs. AUGUSTAN TEXTILE COLOURS PRIVATE LIMITED

JUDGEMENT

(1.) Under adjudication is a joint Company application CA/4/CAA/2017 that has been filed in the matter of the Scheme of Amalgamation. The Applicant Companies, and through this application have prayed for seeking directions:

(2.) Looking to the prayers made in the application in relation to the scheme of amalgamation in respect of the Transferor and Transferee companies, this Bench directs the issue of notices to the Regional Director, Ministry of Corporate Affairs, ROC concerned and Income Tax authorities. As the applicant companies are private limited companies, there is no requirement to send notice to SEBI and other stock exchanges. The Applicants have to file an affidavit that they are exempted under the Competition Act and Regulations. Otherwise, they should approach CCI for necessary clearance. The authorities are directed to make objections/representations, if any, within 30 days from the date of the receipt of notice. In case no objection/representation is received within the stipulated time it shall be deemed that they do not have any objections.

(3.) In respect of the Transferor Company, the Registry is also directed to issue notice to the Official Liquidator who in turn, shall appoint a Chartered Accountant and submit a report with regard to the Transferor Company within four weeks from the date of receipt of this order.