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1971 (9) TMI 87 - HC - Companies Law
Extract:
....... in terms of prayer (a). . . . . 3. For sub-clause (d) of clause 15 of the Scheme the following shall be substituted the sanction by the appropriate High Court under section 391 of the Companies Act, 1956, and the necessary orders under section 394 of the said Act, being obtained, both by the transferor-company as well as by the transferee-company.