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2021 (1) TMI 146 - Tri - Companies LawApproval of Scheme of Amalgamation - Sections 230, 232 & other applicable Provisions of the Companies Act, 2013, R/w Companies (Compromises, Arrangements & Amalgamation) Rules, 2016 - prayer for dispensation with various meetings - HELD THAT:- The reports of the Regional Director, MCA, the ROC as well as the comments offered by the Official Liquidator, the reply filed by the Petitioners and the relevant provisions contained in the Companies Act, 2013 and other related Acts and Rules. In his report, the Regional Director, MCA, Government of India has concluded that the Scheme appears to be fair, reasonable and not detrimental against the Members or Creditors or contrary to public policy and the same can be approved. The Scheme will enable the management of both entities to consolidate their business and the same can be carried on more conveniently and advantageously with greater focus and attention, by simplifying the corporate structure. On a consideration of the facts of the case, it can be concluded 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 Company and the Transferee Company, is hereby sanctioned - The Scheme of Amalgamation, as contained in the present Petition, is hereby sanctioned and the Appointed Date shall be 01st April, 2019. Application allowed.
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