WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...

WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM
Particulars Forum where disputes are pending Disputed amount
Rs. in lakhs
Sales tax Appellate Assistant Commissioner
of Sales-tax
14.61
Sales tax Sales tax Appellate Tribunal
0.83
Material litigation involving CDH (the foreign promoter):
There is no material litigation involving CDH.
XV. GOVERNMENT APPROVALS:
In terms of the Scheme, all permits, quotas, rights, entitlements, industrial and
other licences, bids, tenders, letters of intent, expressions of interest, approvals,
consents, permissions, subsidies, tenancies in relation to office and/or residential
properties for the employees, offices, investments, the benefit of any deposits, all
other rights including sales tax deferrals and exemptions and other sales tax
benefits, lease rights, privileges, all other rights and benefits, licences, powers and
facilities of every kind, nature and description whatsoever, rights to use and avail of
telephones, telexes, facsimile connections and installations, utilities, electricity and
other services, provisions, funds, benefit of all agreements, contracts and
arrangements and all other interests in connection with or relating to the Demerged
Undertaking stood transferred to/vested in the Company from the Effective Date.
Accordingly, the Company has made applications for/obtained endorsements in the
certificate of registrations / licences, obtained / applied for new licences/
registrations / modified the existing agreements / arrangement with government
authorities etc. under applicable laws like the Factories Act, 1948, labour related
laws/ Employees Provident Funds and Miscellaneous Provisions Act, 1952, Foreign
Exchange Management Act, 1999, Pollution Control Board / Air (Prevention and
Control of Pollution Act, Indirect Tax laws and all other statutory laws applicable to
the Company.
XVI. REGULATORY AND STATUTORY DISCLOSURES:
Authority for Listing:
The Honourable High Court of Madras, vide its Order dated 20 th February 2008
sanctioned the Scheme between the Demerged Company and the Company and their
respective equity shareholders and creditors whereby all assets, liabilities, duties,
rights and obligations in respect of the Demerged Undertaking were transferred to
and vested in the Company with effect from the Appointed Date under sections 391
to 394 of the Act. The aforesaid Order of the High Court of Madras was filed with the
ROC on 28 th March 2008 and the Scheme became effective thereupon, namely
Effective Date.
In accordance with the Scheme, 1,00,000 Equity Shares held by SCL and its six
nominees stood extinguished on the Effective Date.
The Equity Shares issued pursuant to the Scheme shall, subject to applicable
regulations, be listed and admitted to trading on the Stock Exchanges.
Such listing and admission for trading is not automatic and will be subject to
fulfilment by the Company of listing criteria of the Stock Exchanges for such issues
and also subject to such other terms and conditions as may be prescribed by the
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