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2021 (1) TMI 113 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCHApproval of the Scheme of Arrangement - Section 230 to 232 and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 - HELD THAT:- The Petitioner Company has filed the certificate of the Independent Statutory Auditor in relation to compliance with the Accounting Standards with respect to the Scheme. Thus, the Petitioner Company has complied with proviso to Section 230 (7)/Section 232 (3) of the Companies Act, 2013 - The Petitioner Company has submitted that no investigation proceedings are pending against them under the provisions of the Companies Act, 1956 or the Companies Act, 2013 and no proceedings are pending against the Petitioner Company under Section 235 to 251 of the Companies Act, 2013 or under relevant provision of the Companies Act, 1956. In view of absence of any other objections having been placed on record before this Tribunal and since all the requisite statutory compliances having been fulfilled, this Tribunal, sanctions the Scheme of Arrangement, annexed at pages 312 to 348 of the typed set filed along with the Company Petitions as well as the prayer made therein - the scheme is sanctioned - application allowed.
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