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2014 (8) TMI 493 - HC - Companies LawApplication for sanction to the Scheme of Amalgamation - Held that:- Official Liquidator has filed his report, wherein he has stated that he has not received any complaint against the proposed Scheme from any person/party interested in the Scheme in any manner and that the affairs of the Transferor Company, which is subject matter of dissolution, do not appear to have been conducted in a manner prejudicial to the interest of its members, creditors or to public interest as per the 2nd Proviso of section 394 (1) of the Act. In view of the approval accorded by the Shareholders and Creditors of the Petitioner Companies; representation/reports filed by the Regional Director, Northern Region and the Official Liquidator, attached with this Court to the proposed Scheme of Amalgamation, there appears to be no impediment to the grant of sanction to the Scheme of Amalgamation. Consequently, sanction is hereby granted to the Scheme of Amalgamation under sections 391 and 394 of the Act. The Petitioner Companies will comply with the statutory requirements in accordance with law - Amalgamation sanctioned.
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