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2009 (1) TMI 475 - HC - Companies LawAmalgamation - Held that:- Since the instant scheme does not affect rights of the members or the creditors of the transferee-company as it does not involve reorganisation of the share capital, the instant scheme is nothing but the amalgamation of the subsidiary company with the holding company for the convenience of business and efficient administration. Hence, the scheme of amalgamation as per annexure A is sanctioned so as to be binding on all the shareholders secured and unsecured creditors of the petitioner (transferor-company) and on the transferee-company. Company petition is, accordingly, allowed.
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