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2009 (7) TMI 791 - HIGH COURT OF GUJARATScheme of amalgamation - Held that:- The only factum deserves to be recorded is that the High Court of Bombay in the case of the transferee company has accorded the sanction to the very scheme of amalgamation, may be keeping in view the interest of the shareholders of the transferee company, but the pertinent aspect is that the scheme is common and the sanction has been granted. Even if the interest of the shareholders of the transferor company, i.e., the petitioner herein is to be considered, in view of the observations made hereinabove, it cannot be said that the scheme is unfair to the shareholders of the transferor company, nor can it be said that the commercial decision taken by the shareholders in their commercial wisdom, deserves to be interfered with by declining the sanction at the instance of the objectors herein, more particularly when as observed earlier there is compliance with the statutory requirement for sanction to the scheme. In the result the petition is allowed. The scheme of amalgamation at exhibit G is sanctioned, subject to the observations made hereinabove in the present order.
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