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2016 (12) TMI 187 - HC - Companies LawScheme of demerger - Held that:- Considering the entire facts and circumstances of the case and on perusal of the Scheme and the proceedings, it appears that the requirements of the provisions of sections 391 to 394 of the Companies Act, 1956 are satisfied. The Scheme appears to be genuine and bonafide and in the interest of the shareholders and creditors. This Court, therefore, accordingly allows the Company Petitions and approves the Scheme, which includes reductions of the paid up equity share capital and paid up preference share capital of the Demerged Company. The Scheme is hereby sanctioned. Thee prayers made in the respective Company Petitions are granted. The petitions are allowed accordingly.
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