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2016 (8) TMI 1051 - HC - Companies LawSanction of a Scheme of demerger - Held that:- The Court is of the view that the observations made by Regional Director do not prevent the Court from sanctioning the Scheme of Demerger. The petitioner-Company have filed affidavit on 19.8.2016 which clearly demonstrates that the observations made by the Regional Director in his affidavit are taken care of. Moreover, there are no other objections to the scheme by anybody, as is clearly borne out from the affidavit of the Regional Director. The Court therefore is of the view that the Scheme of Demerger as proposed is in the interest of the company and their members and is not otherwise prejudicial to public interest. This Court doth hereby sanction the Scheme of Demerger set forth in the petition and this Court does hereby declare the same to be binding on the petitioner-Company and all the members and creditors of the petitioner-Company and all other concerned parties and does hereby approve the said scheme of the demerger with effect from the appointed date i.e. 1st April 2016
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