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2017 DIGILAW 1359 (GUJ)

Ajanta LLP v. .

2017-08-04

ABHILASHA KUMARI

body2017
ORAL ORDER : ABHILASHA KUMARI, J. These Judges' Summons have been preferred by the applicant, seeking the following directions: “(a) To review the aforesaid order dated 16th December 2016 and to permit the modifications in the Schedule of Assets, by way of correcting the erroneous descriptions of some of the assets, submitted along with the Final order of the Hon'ble court for the scheme of arrangement sanctioned vide the judgment dated 16th December 2016 passed by the Hon'ble court (Coram: Hon'ble Smt. Justice Abhilasha Kumari) in Company Petition No. 481 of 2016 by substituting the original Schedule (Exhibit-III) to the affidavit to this summons by the new Schedule (Exhibit-V to the affidavit to this summons). (b) To grant any further relief as this Hon'ble Court may deem fit.” 2. Heard Mrs. Swati Soparkar, learned advocate for the applicant and Mr. Kshitij Amin, learned Central Government Standing Counsel and perused the averments made in the application. 3. It is submitted on behalf of the applicant that pursuant to the passing of the order dated 16.12.2016, the applicant had submitted Schedules of Assets of the Transferor Company to be transferred to the Transferee Company, to the Stamp authorities for adjudication of the amount payable towards the stamp duty for such transfer and vesting of assets. These were submitted along with a copy of the above-referred order. It was at this stage that, due to an inadvertent error and oversight, the details of some of the assets of the Transferor Company were erroneously reflected. As it is necessary to rectify such errors and mention the correct survey numbers as well as the area of each piece of land and the correct constructed area of the buildings, it would be necessary to submit a fresh Schedule of Assets. 4. As it is necessary to rectify such errors and mention the correct survey numbers as well as the area of each piece of land and the correct constructed area of the buildings, it would be necessary to submit a fresh Schedule of Assets. 4. Having heard learned advocate for the applicant and as the directions sought are for the sake of placing on record the correct facts and as the said directions would not adversely affect the right or interest of any of the Shareholders or Creditors, this Court considers it appropriate to pass the following order: The order dated 16.12.2016, passed by this Court, in Company Petition No. 481 of 2016 and cognate matter, is modified so as to permit the modifications in the Schedule of Assets by way of correcting the erroneous description of some of the assets submitted along with the final order of this Court for the Scheme of Arrangement sanctioned vide order dated 16.12.2016 5. Insofar as the costs to be paid to Mr. Kshtij Amin, learned Central Government Standing Counsel are concerned, they are quantified at Rs. 7,500/-. 6. The application is disposed of, in the above terms.