Calcutta High Court
North India Lpg Cylinders Ltd. & Anr vs North India Wires Ltd on 21 November, 2016
Author: Soumen Sen
Bench: Soumen Sen
ORDER SHEET
CP No. 692 of 2016
CA No. 321 of 2016
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
IN THE MATTER OF:
NORTH INDIA LPG CYLINDERS LTD. & ANR.
-AND-
NORTH INDIA WIRES LTD.
BEFORE:
The Hon'ble JUSTICE SOUMEN SEN
Date : 21st November, 2016.
Appearance:
Ms. Prabha Jain, Advocate.
Ms. P. Saha, Advocate.
The Central Government has filed an affidavit in which the Central Government has raised three objections. The learned counsel appearing on behalf of the petitioner has agreed to comply with the objections raised in paragraphs 2(a), 2(b) and 2(c) of the affidavit.
Subject to compliance of paragraphs 2(a), 2(b) and 2(c) of the affidavit filed by the Central Government requiring the transferee company to increase its authorised share capital to enable it to allot shares to the shareholders of the transferor companies by filing of e- Form SH-7 with the Registrar of Companies, West Bengal and the Demerged Company satisfying the existing charge of the Demerged Company by filing e-Form CHG-4 (earlier e-Form No. 17) in the office of the Registrar of Companies, West Bengal along with the NOC of the Bank and the Resulting Company creating new Charge by filing e-Form CHG-1 (earlier e-Form No.
8) with the Registrar of Companies, there shall be an order in terms of prayers (a) to (g) of the petition.2
In the event, the petitioners supply a legible computerised printout of the scheme and the Schedule of asset in acceptable form to the department, the department will append such computerised printout, upon verification, to the certified copy of the order without insisting on a handwritten copy thereof.
It is submitted on behalf of the petitioner that due to inadvertence the appointed has been shown as 31st March 2015 instead of 1st April 2015. The scheme of arrangement mentioned in paragraph 1 of the petition would be binding with effect from 1st April 2015 on the transferor company and the appointed date shall be treated as 1st April 2015 and not 31st March 2015. It further appears that the Income Tax Authorities have no objection to the sanctioning of the scheme.
Let costs assessed at 600 GMs be paid by the petitioners to the Central Government within two weeks.
CP No. 692 of 2016 is, accordingly, disposed of.
(SOUMEN SEN, J.) S. Kumar