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2016 (3) TMI 465 - GUJARAT HIGH COURTScheme of Amalgamation - Held that:- Official Liquidator report confirms that the affairs of the Transferor Company are not conducted in a manner prejudicial to the interest of its members or to the public interest. Having heard Mr. Navin K Pahwa, learned Counsel for the petitioner Company, Mr. Kshitij Amin, learned Central Government Standing Counsel for Mr. Devang Vyas, learned Assistant Solicitor General of India for the Regional Director and upon perusal of the report of the Official Liquidator and the Regional Director and having considered the Scheme of Amalgamation together with the relevant documents on record, this Court finds it appropriate to grant sanction to the present Scheme of Amalgamation. It is, however, directed that the petitioner shall preserve its books of accounts, papers and records and shall not dispose of the records without the prior permission of the Central Government under Section 396A of the Companies Act, 1956. 11 The cost of this petition is determined at ₹ 7,500/payable to Shri Devang Vyas, learned Assistant Solicitor General of India and the Official Liquidator, respectively.
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