Amalgamation scheme sanction under Companies Act upheld after full compliance and no objection from statutory authorities.

A scheme of amalgamation was sanctioned under the Companies Act, 2013 because the application was backed by the necessary corporate approvals, statutory notices were served, and no objection was raised by the Regional Director or the Official Liquidator. Compliance with sections 230 and 232 was found complete, and no prejudice to shareholders, creditors, or public interest was shown. In the absence of any subsisting objection and on satisfaction of the requisite procedural and substantive requirements, the scheme was approved and made binding on the transferor company, the transferee company, their shareholders, and all concerned.

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Issues: Whether the proposed scheme of amalgamation deserved sanction under the Companies Act, 2013.

Analysis: The application was supported by the necessary corporate approvals, notices were served on the concerned statutory authorities, and no objection was received from the Regional Director or the Official Liquidator. The record showed compliance with the requirements for sanction of a scheme under sections 230 and 232 of the Companies Act, 2013, and no prejudice to shareholders, creditors, or public interest was shown. In the absence of any subsisting objection and upon satisfaction of the requisite compliances, the scheme was found fit for approval.

Conclusion: The scheme of amalgamation was sanctioned and made binding on the transferor company, the transferee company, their shareholders, and all concerned.

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