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2016 (9) TMI 267 - 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 med by the Transferee company. It is further directed that the petitioner Company shall preserve its books of accounts, papers and record and shall not to dispose of the records without the prior permission of the Central Government under Section 396A of the Companies Act, 1956. The petitioner company is also directed to ensure compliances of all applicable laws and it is also observed that sanction of the Scheme shall not absolve the petitioner company from any of the statutory liability, if any.
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