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2016 (3) TMI 603 - GUJARAT HIGH COURTScheme of Amalgamation - Held that:- The report confirms that the affairs of the Transferor Company are not conducted in a manner prejudicial to the interest of its members or to the public interest. The Official Liquidator, however, has requested this Court to direct the petitioner to preserve its books of accounts, papers and records and not to dispose of the records without the prior permission of the Central Government under Section 396A of the Companies Act,1956. Having heard Mr. Navin K Pahwa, learned Counsel for the petitioner company, Mr. Kshitij Amin, learned Central Government Standing Counsel for Mr. Devang Vyas, learned Assistant Solicitor General of India for the Regional Director and upon perusal of the report of the Official Liquidator and the Regional Director and having considered the Scheme of Amalgamation together with relevant documents on record, this Court finds it appropriate to grant sanction to the present Scheme of Amalgamation.
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