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2010 (12) TMI 1068 - HC - Companies LawWhether the proposed scheme is opposed to the interest of the company or public interest, as to whether the material facts relating to the company have been disclosed and the company is not facing any investigation under sections 235 to 251 of the Act? Held that:- There shall be an order approving the scheme of arrangement, as provided in the scheme of arrangement annexed as annexure A to the company petition with effect from April 1, 2009, as the procedure laid down under sections 391 and 394 of the Act has been duly complied with. However, the said approval is subject to sanction of the scheme of arrangement by the High Court of Karnataka with respect to the transferor companies. It is also made clear that the approval of the scheme shall be without prejudice to the right of the objector in proceeding for winding up petition filed by it, in respect of which no opinion is expressed by this court. This petition is allowed.
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