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2021 (3) TMI 347 - Tri - Companies LawSanction of Scheme of Arrangement - Sections 230-232 read with Section 66 of the Companies Act, 2013 - HELD THAT:- The authorized representative has placed on record the summary of Composite Scheme of Arrangement (Annexure A), Diagrammatic Representation of Pre and Post shareholding pattern of Petitioner Companies after Composite Scheme of Arrangement is effective (Annexure B) and Provisional Financials of Petitioner Companies as on 30.06.2020. These annexures have been filed vide Diary No. 00868/1 dated 29.09.2020. There are no objections to the Scheme and hence there is no impediment in the sanction of the Scheme. Therefore, the Scheme (Annexure-4) is hereby approved. While approving the Scheme, it is clarified that this order should not be construed as an order in any way granting exemption from payment of any stamp duty, taxes, or any other charges, if any, and payment in accordance with law or granting permission in respect of any compliance with any other requirement which may be specifically required under any law. With the sanction of the Scheme, the Transferor Company shall be transferred to and vested in the Transferee Company and the Demerged Undertaking 1 of the Demerged Company 1 and Demerged Undertaking 2 of Demerged Company 2 stand demerged and transferred to, and vested in, the Resulting Company. Application disposed off.
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