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2016 (4) TMI 1017 - HC - Companies LawScheme of Arrangement in the nature of Amalgamation - Held that:- This Court considers that the observations made by the Regional Director, Ministry of Corporate Affairs, have been redressed satisfactorily. It appears that the present Scheme of Arrangement is in the interest of the shareholders and creditors of all the companies as well as in the public interest, therefore, the same deserves to be sanctioned. The modification sought regarding the amendment of the Scheme with regard to clause 1.2, referring to the Appointed Date as 1st April 2016, is granted. The Modified Scheme, as placed on record at page 97, is hereby sanctioned. The prayers in terms of paragraph 16 (a) of the Company Petition No. 36 of 2016 and paragraph 16 (a) of the Company Petition No. 37 of 2016 are granted.The petitions are disposed of, accordingly. So far as the costs to be paid to the Central Govt. Standing Counsel is concerned, the same are quantified at ₹ 7,500/per petition. The same may be paid to Mr.Devang Vyas, learned Assistant Solicitor General of India. Cost of ₹ 7,500/be paid to the Office of the Official Liquidator, by the Transferor Company.
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