Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2017 (8) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 1719 - NATIONAL COMPANY LAW TRIBUNAL, CHENNAI BENCHSanction for the Scheme of Amalgamation - HELD THAT:- Perusal of the scheme shows that the accounting treatment is in conformity with the established accounting standards. In short, there is no apprehension that any of the creditors would lose or be prejudiced if the proposed scheme is sanctioned. The said Scheme of Amalgamation will not cast any additional burden on the stakeholders and also will not prejudicially affect the interests of any class of the creditors in any manner. The Appointed date of the said Scheme is 1st April, 2015 - There is no additional requirement for any modification and the said Scheme of Amalgamation appears to be fair and reasonable and is not contrary to public policy and not violative of any provisions of law. All the statutory compliances have been made under section 391 of the Companies Act, 1956. The Company Petitions are allowed and the scheme of Amalgamation annexed with the petitions is hereby sanctioned which shall be binding on the members, creditors and shareholders.
|