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2021 (5) TMI 135 - Tri - Companies LawSanction of the proposed Scheme of Demerger and Arrangement - Section 230 to 232 read with Section 66 of the Companies Act, 2013 and the Companies (Compromises, Arrangements and Amalgamation) Rules, 2016 - HELD THAT:- Considering the entire facts and circumstances of the case and on perusal of the Scheme, reports of the Regional Director and reply/undertakings of the Petitioner Companies thereon and the documents produced on record, the Scheme of Demerger and Arrangement appears to be fair and reasonable and is not contrary to public policy and does not appear to be violative of any provisions of law. All the statutory compliances have been made under Section 230 to 232 of the Companies Act, 2013. The Revised Scheme of Demerger and Arrangement (which is enclosed at Page No. 17 to 42 to the Reply affidavit dated 12.03.2021) is hereby sanctioned and it is declared that the same shall be binding on the Petitioner Companies and their respective Shareholders and Creditors, Employees and all concerned under the Scheme - Application allowed.
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