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2016 (12) TMI 882 - HC - Companies LawReconstruction in nature of ‘Slump Sale’ and amalgamation of the Residual Undertaking - Held that:- Considering the above facts and circumstances and taking into account all the contentions raised by the affidavits and reply affidavits, and the undertakings provided vide the additional affidavit dated 14th December 2016, and submissions made at the time of hearing, this Court is satisfied that the observations made by the Regional Director, Ministry of Corporate Affairs, have been satisfactorily addressed. Hence, they no longer survive. This Court is of the view that the present Scheme of Arrangement appears to be in the interest of its shareholders and creditors as well as in the public interest. It, therefore, deserves to be sanctioned. Considering the above, the Scheme is hereby sanctioned.
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