2021 (2) TMI 460 - NATIONAL COMPANY LAW TRIBUNAL , KOCHI BENCH - Corporate Laws

Head Note / Extract:
Seeking sanction of Scheme of Amalgamation - Section 230-232 of Companies Act - HELD THAT:- On going through the report of the Registrar of Companies, it is seen that both companies have violated the provisions of the Companies Act and the petitioners could not successfully controvert the objections raised by the Regional Director. They have not followed most of the provisions of the Companies Act, which are mandatory for continuance of a company honestly. They must be humble and serious enough to abide the law and any proposition of business must be planned in such a manner that no law, logic and rights of any person are violated. Hence this Tribunal is of the opinion that this is not a fit case to sanction the Scheme of Amalgamation. Application dismissed.