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2016 (4) TMI 1374 - HC - Companies LawSanction of scheme of arrangement and compromise - convening, holding and conducting of the meeting of the shareholders - sections 391 to 393 of the Companies Act, 1956 - HELD THAT:- The Scheme is not prejudicial to the interest of any person or entity, which has a stake/interest in the petitioner company. The said scheme as framed is not violative of any statutory provisions - The scheme as formulated is fair, just, sound and is not contrary to any public policy or public interest. No proceedings appear to be pending under the provisions of Sections 231 to 237 of the Companies Act, 1956. All the statutory provisions appear to have been complied with. Consequently, there shall be an order approving the scheme of arrangement and compromise between the petitioner company, viz., Cognizant Technology Solutions India Private Limited and its shareholders, with effect from the date on which the sanctioned Scheme is filed with the Registrar of Companies, Chennai, Tamil Nadu by the petitioner company, as the procedure laid down under Sections 391 to 393 of the Companies Act are duly complied with. The petition is allowed - The learned Senior Central Government Standing Counsel is entitled to a fee of ₹ 5,000/- from the petitioner company.
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