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2017 (1) TMI 125 - HC - Companies LawGrant of Scheme under sections 391 and 394 of the Companies Act, 1956 - Held that:- Upon considering the approval accorded by the members and creditors of the Petitioner Companies to the Scheme; the circumstance that the objections raised by way of the affidavit filed by the Regional Director, Northern Region, Ministry of Corporate Affairs have been satisfied; and the report Official Liquidator attached to this High Court whereby no objections have been raised, there appears to be no impediment to the grant of sanction to the Scheme. Consequently, sanction is hereby granted to the Scheme under sections 391 and 394 of the Companies Act, 1956. The Petitioner Companies will however, comply with the statutory requirements, in accordance with law. A certified copy of the order, sanctioning the scheme, be filed with the ROC, within thirty (30) days of its receipt.
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