Common use of EFFECT OF NON-RECEIPT OF APPROVALS Clause in Contracts

EFFECT OF NON-RECEIPT OF APPROVALS. 5.4.1 In the event of any of the sanctions and approvals referred to in Clause 5.3 not being obtained and/ or the Scheme not being sanctioned by the High Court or such other competent authority and / or the Order not being passed as aforesaid before 31st March, 2011 or within such further period or periods as may be agreed upon between the Transferor Company and the Transferee Company by their respective Boards of Directors (and which the Boards of Directors of the Transferor Company and the Transferee Company are hereby empowered and authorised to agree to and extend the Scheme from time to time without any limitation), this Scheme shall stand revoked, cancelled and be of no effect, save and except in respect of any act or deed done prior thereto as is contemplated hereunder or as to any rights and / or liabilities which might have arisen or accrued pursuant thereto and which shall be governed and be preserved or worked out as is specifically provided in the Scheme or as may otherwise arise in law. Each party shall bear and pay its respective costs, charges and expenses for and or in connection with the Scheme.

EFFECT OF NON-RECEIPT OF APPROVALS. 5.4.1 44.1 In the event of any of the said sanctions and approvals referred to in Clause 5.3 the preceding clause not being obtained and/ obtainedand/ or the Scheme not being sanctioned by the High Court or such other competent authority and / or the Order theOrder not being passed as aforesaid before 31st MarchAugust 31, 2011 2016 or within such further period or periods as may asmay be agreed upon between the Transferor Company, the Transferee Company, the Demerged Companies, the First Resulting Company and the Transferee Second Resulting Company by their respective Boards Board of Directors (and which the Boards of Boardof Directors of the Transferor Company and the Transferee Company Companies are hereby empowered and authorised to agree to and extend the Scheme from time fromtime to time without any limitation), this Scheme shall stand revoked, cancelled and be of no effect, save and saveand except in respect of any act or deed done prior thereto as is contemplated hereunder or as to any rights and / rightsand/ or liabilities which might have arisen or accrued pursuant thereto and which shall be governed and be preserved bepreserved or worked out as is specifically provided in the Scheme or as may otherwise arise in law. Each party shall bear and pay its respective costs, charges and expenses for and or in connection with the Scheme.

EFFECT OF NON-RECEIPT OF APPROVALS. 5.4.1 In the event of any of the said sanctions and approvals referred to in the preceding Clause 5.3 16 not being obtained and/ or the Scheme not being sanctioned by the Bombay High Court or such other competent authority and / or the Order not being passed as aforesaid before 31st March, 2011 March 2015 or within such further period or periods as may be agreed upon between the Transferor Company Companies and the Transferee Company by their respective Boards of Directors (and which the Boards of Directors of the Transferor Company and the Transferee Company Companies are hereby empowered and authorised to agree to and extend the Scheme from time to time without any limitation), ) this Scheme shall stand revoked, cancelled and be of no effect, save and except in respect of any act or deed done prior thereto as is contemplated hereunder or as to any rights and / and/ or liabilities which might have arisen or accrued pursuant thereto and which shall be governed and be preserved or worked out as is specifically provided in the Scheme or as may otherwise arise in law. Each party shall bear and pay its respective costs, charges and expenses for and or in connection with the Scheme.