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2016 (2) TMI 1255 - HC - Companies LawScheme of arrangement - no proceedings under Sections 235 to 251 of the Companies Act, 1956 are pending against the transferor and transferee companies - HELD THAT:- Considering the approval accorded by the equity shareholders and creditors of the petitioner companies to the proposed Scheme of Amalgamation; the affidavit filed by the Official Liquidator not raising any objection to the amended Scheme of Amalgamation; and there being no surviving objection to the same by the Regional Director, Northern Region, there appears to be no impediment to the grant of sanction to the amended Scheme of Amalgamation. Consequently, sanction is hereby granted to the amended Scheme of Amalgamation under Sections 391 and 394 of the Companies Act, 1956. Upon the sanction becoming effective from the appointed date of Amalgamation, i.e. 1st April, 2013, the transferor companies no. 1 to 15 shall stand dissolved without undergoing the process of winding up. Petition allowed.
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