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2013 (1) TMI 388 - UTTARAKHAND HIGH COURTScheme of amalgamation - Held that:- There being unanimity amongst the shareholders and unsecured creditors of the Transferee Company that the amalgamation be directed to take place and there being nothing adverse in the report of the Chairman which may occasion this Court to deny the relief which is being sought in this company petition, and having regard to the entirety of the record, this Court considers it expedient, appropriate and in the interest of justice that subject to some conditions the relief sought in effect on amalgamation be granted and the scheme of amalgamation as specified be accepted subject to orders passed on a similar application/petition filed by the Transferee Company before the High Court of Delhi. Consequently this petition stands allowed and the Scheme of Amalgamation hereby sanctioned with effect from 01.01.2012, provided the transferor and transferee companies give an undertaking that they shall comply with all the requirements of the Reserve Bank of India as required under the Foreign Exchange Management Act, 1999 (FEMA) for the transactions involving foreign banks / entities - meet all requirements / conditions as laid down by the Regional Director, Northern Region, Ministry of Corporate Affairs in its representation, and give the undertaking to that effect as required by the Regional Director in its report with certified copy of this order filed before the ROC within 30 days of the receipt of the certified copy.
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