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2010 (10) TMI 918 - HC - Companies LawPetitions filed by the petitioner-companies for sanction of a composite scheme of arrangement in nature of demerger and transfer of treasury segment of Paras Pharmaceuticals Ltd., the demerged company to Sterling Addlife India Ltd., the resulting company and reduction of capital of Paras Pharmaceuticals Ltd., under sections 391 and 394 read with sections 78 and 100 to 104 of the Companies Act, 1956 Held that:- Considering the petitions and other relevant documents on record and considering the submissions made at the time of hearing the court is satisfied that the observations made by the Regional Director do not survive and the scheme of arrangement would be in the interest of the companies and their members and creditors. Prayers in terms of paragraph 20(a) in the case of Company Petition No. 87 of 2010 and paragraphs 16(a) and (b) in the case of Company Petition No. 88 of 2010 are hereby granted.
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