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2020 (9) TMI 1002 - Tri - Companies LawApproval of Composite Scheme of Amalgamation and Plan of Merger - sections 230 to 232 read with section 234 and other applicable provisions of Companies Act, 2013 - HELD THAT:- The observations of the Regional Director (Western Region), Ministry of Corporate Affairs, Mumbai, mentioned in para 10 above, have been clarified by the Petitioner Companies in para 11 above. The clarifications are accepted. Moreover, the Petitioner Companies, through their Counsel, undertake to comply with all statutory requirementsrequired under the Companies Act, 2013 and the rules made thereunder, whichever is applicable. The undertakings given by the Petitioner Companies are accepted - The Official Liquidator, High Court, Bombay, has filed his report dated 14th July 2020 with the Tribunal, inter alia submitting that the affairs of the First Petitioner Company have been conducted in a proper manner. No objections have been raised with respect to the Scheme. From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy - Since all the requisite statutory compliances have been fulfilled, the Scheme is sanctioned. The Scheme is sanctioned, and the Appointed Date of the Scheme is fixed as opening hours of 1stMarch 2020 - application allowed.
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