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2016 (3) TMI 1467 - HC - Companies LawSeeking sanction of scheme of amalgamation with Virchow Drugs Limited. - Sections 391 and 394 of the Companies Act, 1956 - HELD THAT:- This Court is of the opinion that the proposed scheme of amalgamation is in conformity with the provisions of the Act. The scheme does not affect the interest of stakeholders and the public or public interest and is intended to further the business interests of transferor and transferee companies for more profit and maximum utilization of available resources. Therefore, the scheme of amalgamation approved in the meeting of Board of Directors of transferor company on 04.01.2016 is sanctioned with effect from the date appointed i.e., 01.04.2015. The transferor company viz., Siri Drugs India Private Limited is ordered to be dissolved without going through the process of winding up. Petition disposed off.
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