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2020 (10) TMI 336 - NATIONAL COMPANY LAW TRIBUNAL — BENGALURU BENCHSanction the scheme of amalgamation - sections 230 to 232 of the Companies Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 - HELD THAT:- It appears that the scheme will result in economies of scale, reduction in overheads, administrative, managerial and other expenditure and increase in operational rationalization, organizational efficiency, and optimal utilization of various resources, etc. On a consideration of the facts of the case as mentioned in the preceding paragraphs, which are not elaborated here again to avoid duplication and repetition, we are satisfied that the procedure specified in sub-sections (1) and (2) of section 232 of the Companies Act, 2013 has been complied with, and hence the scheme of amalgamation, as approved by the boards of both the transferor and transferee companies, can be sanctioned. The scheme of amalgamation, as contained in the present petition, is hereby sanctioned and the appointed date shall be April 1, 2018 - application allowed.
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