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2016 (12) TMI 1252 - GUJARAT HIGH COURTScheme of Amalgamation - Held that:- Having considered the Scheme of Amalgamation, together with relevant documents on record, the Court finds it appropriate to grant sanction to the proposed Scheme of Amalgamation. Thus the Scheme of Amalgamation is sanctioned. It is, however, directed that the petitioner Transferor Companies shall preserve their books of accounts, papers and records and shall not dispose of the records without the prior permission of the Central Government under Section 396 A of the Companies Act, 1956. It is further observed that the sanction of this Scheme shall not absolve the Transferor Companies from statutory liability, if any.
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