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Judgment
CA No. 22/2022
 The present application has been filed on behalf of applicant to prepone the date of hearing in the first motion application bearing CA (CAA) No.
31/Chd/Hry/2021, which is fixed for 07.03.2022 and permission to withdraw the composite scheme of arrangement. Keeping in view the grounds
mentioned and in the interest of justice, CA No. 22/2022 is allowed and disposed of accordingly.
CA(CAA)No. 31/Chd/Hry/2021
On the request of learned counsels for the applicants companies, the main petition has been preponed for today. It is mentioned in the application that
keeping in view the seminal telecom sectoral reforms package announced by the Government of India, applicant company No. 1 is of the view that
existing corporate structure of the company is optimal of leveraging these emerging opportunities. Therefore, the Board of Directors of each applicant
company has deliberated to withdraw the scheme in its entirety and the same is placed as Annexure 2 with the application. Keeping in view the facts
and circumstances mentioned in the application and on the statement made by learned counsels for applicant companies CA(CAA)No.
31/Chd/Hry/2021, which is at the initial stage of first motion, is allowed to be withdrawn subject to cost of ₹ 50,000/- to be deposited in favour of 'The
Company Law Tribunal Bar Association, Chandigarh'. Â Â Â Â Â
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