2012 (3) TMI 170

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....e Transferor-Company seeking approval of the scheme of amalgamation as at Annexure-A to the petition. 2. Heard the learned counsel for the parties and perused the petition papers. 3. The Transferor Company was incorporated on 01.10.2007. The Transferee-Company was incorporated on 06.08.2008. The Transferor and Transferee-Companies in then meeting of the Board of Directors held on 02.08.2011 ....

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....effected if the scheme of amalgamation as proposed is approved. Insofar as the notice issued to the Regional Director, the Regional Director by the affidavit filed before this Court had raised certain observations with regard to non-filing of the audited accounts of the petitioner-Company for the year ended 31.03.2011. Pursuant thereto, a clarification affidavit has been filed by the petitioner-Co....

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.... any manner prejudicial to the Interest of the members or to the public interest. Therefore, insofar as the competent authorities are concerned, there is no lacuna pointed out in the scheme of arrangement as proposed between the Transferor and the Transferee Companies nor is it stated to be against public interest. 6. In the above background, a perusal of the scheme of arrangement as at Annexur....

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....fficial liquidator have raised any objections with regard to the scheme, the scheme as proposed requires to be approved. 7. In the result, the following: ORDER (i)  The petition is allowed. (ii)  The scheme as at Annexure-A for amalgamation of the petitioner-Transferor-Company with the Transferee-Company is approved which will remain subject to the petition of the Transferee-....