Court Dismisses Fraudulent Amalgamation Scheme Application; Imposes Rs. 2,00,000 Cost for Misuse of Judicial Resources.

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....Seeking modification in the scheme of Amalgamation - this application came to be filed only to cheat debenture holders by gaining more time. Therefore, for wasting the Court time and making an attempt to defraud the creditors and the debenture holders, this Court is inclined to dismiss this application with the cost of a sum of Rs.2,00,000/- to the Official Liquidator for meeting the expenses - HC....