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2007 (11) TMI 405 - HIGH COURT OF MADRASDemerger - Compromise and arrangement - Held that:- Find force in the submissions of learned counsel for the petitioners as objections of of the Regional Director could not be put against the petitioners at the time of considering the sanctioning of the scheme of arrangement. Further, as rightly contended by learned counsel for the petitioners, the petitions filed under sections 391 to 394 of the Companies Act are like a single window system and the petitioners could not be burdened with taking out various applications which are cumbersome in nature. Further, learned counsel for the petitioners, has rightly pointed out that, if necessary, the petitioners could always go before the Registrar of Companies for obtaining the necessary approval even after the scheme of arrangement is sanctioned by this Court. Proposed scheme of arrangement allowed.
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