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2017 (1) TMI 636 - HC - Companies LawScheme of Arrangement - Held that:- In view of the foregoing and upon considering the approval accorded by the members and creditors of the Petitioner Companies to the Scheme; the affidavit filed by the Regional Director, Northern Region, Ministry, of Corporate Affairs; and the circumstance that the objection raised in the affidavit of the Regional Director has been satisfied, there appears to be no impediment to the grant of sanction to the Scheme. Consequently, sanction is hereby granted to the Scheme under section 391(2) and 394; 100 to 104 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) day of its receipt. Resultantly, it is hereby directed that the Petitioner Companies will comply with all the provisions of the Scheme.
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