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2016 (7) TMI 216 - HC - Companies LawScheme of Amalgamation is sanctioned. The sanction of the scheme is subject to the sanction of the Scheme by the Hon’ble High Court of Judicature at Bombay in the petition tiled by the Transferee Company. It is further directed that the petitioner companies shall preserve their books of accounts, papers and record and shall not to dispose of the records without the prior permission of the Central Government under Section 396-A of the Companies Act, 1956. The petitioner companies are also directed to ensure compliance of all applicable laws and it is also observed that sanction of the Scheme shall not absolve the petitioner companies from any of the statutory liability, if any.
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