Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2021 (4) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 1180 - Tri - Companies LawSanction of scheme of arrangement - not-for-profit Companies registered under Section 8 of the Companies Act, 2013 - Petitioner Companies belonging to the same management group or not - HELD THAT:- On perusal of the Scheme and the proceedings, it appears that the requirements of the provisions of section 230 and 232 of the Companies Act, 2013 are satisfied. The Scheme of Arrangement envisaging amalgamation of UNM Foundation, the Petitioner Transferor Company with Tornascent Care Institute, the Petitioner Transferee Company, which is at Annexure- T to the petition is hereby sanctioned and it is declared that the same shall be binding on the Petitioner Companies, their shareholders and unsecured creditors and all concerned under the scheme - this Bench is of the opinion that in respect of any change in name, the Petitioner/Transferee Company shall comply Section 13 of the Companies Act separately/independently. Petition disposed off.
|