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2016 (2) TMI 1043 - DELHI HIGH COURTScheme of demerger - Held that:- In view of the foregoing, Ms. Aparna Mudiam, Assistant ROC appearing on behalf of the Regional Director, has stated that all the observations made by the Regional Director stand satisfied and that they would have no objection in the event this Court were to grant sanction to the Scheme. It is noted that no objections to the proposed Scheme have been received from any person/party. Affidavits dated 04.02.2017 have been filed on behalf each of the Petitioner Companies, stating that no objections from any person/party, to the proposed Scheme have been received pursuant to the publication of citations in newspapers. In view of the foregoing and in view of the approval accorded by the shareholders & creditors of the Petitioner Companies and the circumstance that all the observations raised by way of the representation/affidavit filed by the Regional Director have been satisfied, there appears to be no impediment to grant of sanction to the Scheme. Consequently, sanction is hereby granted to the Scheme the provisions of sections 391 to 394 of the Act. The Petitioner Companies shall comply with all the statutory requirements in accordance with law.
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