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Showing contexts for: REGIONAL DIRECTOR NORTH in Joint Commissioner Of Income Tax (Osd) vs Reliance Jio Infocomm Ltd. & Ors on 20 December, 2019Matching Fragments
4. Notices were directed to be issued on Regional Director, North Western Region, Registrar of Companies, concerned Income Tax Authority (in case of Petitioner Company No.1), 'Securities and Exchange Board of India', 'BSE Limited' and 'National Stock Exchange of India Limited' (in case of Petitioner Company No.1) stating that the representation, if any, to be made by them, within a period of 30 days from the date of receipt. Publication was also directed to be made and published in the Newspaper "Indian Express" in English language having all India circulation and "Divya Bhaskar" in Gujarati language having circulation in Ahmedabad. Statutory notice was issued and Affidavits were also filed.
5. The National Company Law Tribunal, Ahmedabad Bench, taking into consideration the Chairperson's Report of the meeting of the Secured Creditors; Chairperson's Report of the meeting of the Unsecured Creditors; Chairperson's Report of the meeting of the Preference Shareholders; Chairperson's Report of the meeting of the Equity Shareholders of the Petitioner Company No.1, by order dated 11th January, 2019, directed the Regional Director, North Western Region to make a representation under Section 230(5) of the Companies Act, 2013 and the Income Tax Department to file representation.
Explanation.--For the purposes of sub-section (2), the term ''infrastructure projects'' means the infrastructure projects specified in Schedule VI."
27. Whether clause B (iv) is against Section 55, is not a subject matter for determination by the Income Tax Department. It can be noticed and Company Appeal (AT) Nos. 113 & 114 of 2019 objected by the Competent Authorities i.e., Regional Director, North Western Region and the Registrar of Companies.
28. Pursuant to order dated 11th January, 2019, the Regional Director, North Western Region, made a representation vide letter dated 13th March, 2019 making certain observations.
(i) The first observation relates to non-convertible debentures of the Applicant Company No.1.
(ii) The second observation relates to placing on record the relevant facts regarding clause 4.2 of the Composite Scheme of Arrangement.
(iii) The third observation relates to modification of the Composite Scheme of Arrangement.