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2014 (9) TMI 1086 - HC - Companies LawScheme of Amalgamation - Held that:- Upon consideration of the entire material and keeping in view the provisions of Section 391 to 394 of the Companies Act and upon consideration of the reports of the Regional Director to the Northern Region, Ministry of Corporate Affairs, Noida and the Official Liquidator as also the affidavit that there are no investigation or proceedings pending against the constituent Companies to the Scheme on Amalgamation under Section 235 and 251 of the Companies Act, the Scheme of Amalgamation is hereby sanctioned and as a result thereof the assets and liabilities of the Transferor Companies 1, 2, 3 and 4 shall stand vested in the Transferee Company no.2 and the Transferor Companies shall be dissolved without being wound up. The Scheme shall be binding on the participants Companies and therefore, respective shareholders, creditors and all concerned. Let a formal order of sanction of the Scheme of Amalgamation be drawn up in accordance with law and a certified copy be filed with the Registrar of Companies within 30 days of the same. The report of the Regional Director regarding the effective date as per Section 391(3) to be the date when certified copy filed with Registrar of Companies is accepted.
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