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2016 (12) TMI 1303 - GUJARAT HIGH COURTScheme of Amalgamation is sanctioned subject to the order that in Clause 13.4 of the Scheme, the words “….and change in the object clause” shall stand deleted. It is further directed that the petitioner Transferor Companies shall preserve their books of accounts, papers and record and shall not to 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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