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2015 (3) TMI 1399 - HC - Companies LawSanction of scheme of Amalgamation - registration as NBFC - Transferee Company undertakes to register with RBI - HELD THAT:- A perusal of the papers would indicate that on consideration of the scheme the competent authorities though have raised observation regarding one aspect relating to the provisions made in the scheme, but it is not as being contrary to any law, but only for securing RBI clearance, which is undertaken. Further, despite publication of the filing of these petitions, no person interested in the affairs of the petitioner companies or their members have raised any objection to the sanction of scheme by this Court. The Transferee company would remain liable for compliance of the law under various enactments including the Income Tax Act on the scheme becoming operational. The scheme in Clause-9 provides to protect the interests of the staff workmen and employees of the Transferor companies - petition allowed.
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