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2007 (9) TMI 402 - HC - Companies LawAmalgamation - Held that:- The transferor is a wholly owned subsidiary of the transferee. The scheme of amalgamation involves the entire undertaking of the transferor to be transferred to and vested in the transferee with a view to achieve the aforementioned objects. It cannot be said that, in the present case, the scheme of amalgamation is a device to evade the law, is unconscionable, unfair or unjust to the members/creditors of both the transferor and transferee companies or that it is against public policy or that it shocks the conscience of the Court. It cannot, therefore, be said that the scheme of amalgamation, if approved, would be prejudicial to public interest. Therefore consider it appropriate, therefore, to sanction the scheme of amalgamation. As required under section 394(3) of the Companies Act, read with rule 81 of the Company (Court) Rules, 1959, the petitioner shall file a certified copy, of the order of this Court, with the Registrar of Companies for its registration within thirty days from the date of the order.
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