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2020 (11) TMI 57 - Tri - Companies LawApproval of Scheme of Merger by Absorption - Sections 230 to 232 of the Companies Act, 2013 and other relevant provisions of the Companies Act, 2013 and the rules framed there under - HELD THAT:- In response to the observations made by the Regional Director, the Petitioner Companies clarifying as that so far as the observation in paragraph II of the Report of the Regional Director is concerned, the Petitioner Companies submitted that the amalgamation will enable the Transferee Company to consolidate the businesses and lead to synergies in operation and create a stronger financial base and that it would be advantageous to combine the activities and operations of all companies into a single Company for synergistic linkages and the benefit of combined financial resources. This will be reflected in the profitability of the Transferee Company - 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. Scheme sanctioned.
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