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2016 (5) TMI 643 - HC - Companies LawScheme of Amalgamation - Held that:- Having heard Mr.Navin K. Pahwa, learned Counsel for the petitioner companies, Mr.Kshitij Amin, learned Central Government Standing Counsel on behalf of Mr.Devang Vyas, learned Assistant Solicitor General of India for the Regional Director and upon perusal of the report of the Regional Director and the report of the Official Liquidator, the reply filed on behalf of the Petitioner Transferee Company and having considered the Scheme of Amalgamation together with the relevant documents on record, this Court finds it appropriate to grant sanction to the present Scheme of Amalgamation. In view of the above, the Scheme of Amalgamation is sanctioned. The petitioner Transferor company is directed to preserve its books of accounts, papers and records and not to dispose of the records without prior permission of Central Government as per the provisions of Section 396 (A) of the Companies Act, 1956. The petitioner Transferor company is also directed to ensure all statutory compliance. The cost of these petitions are determined at ₹ 7,500/each payable to Shri Devang Vyas, learned Assistant Solicitor General of India and ₹ 7,500/to the Official Liquidator in the case of the Transferor Company.
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