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2017 (6) TMI 654 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHIScheme of Amalgamation - Held that:- Considering the approval accorded by the members and creditors of the Petitioners to the proposed Scheme, and the affidavits filed by the Regional Director, Northern Region, Ministry of Corporate Affairs and Official Liquidator whereby no serious objections save the one relating to NBFC which has also been dealt with have been raised to the proposed Scheme, there appears to be no impediment to grant sanction to the Scheme. We also accept that none of the companies fall in the definition of NBFC and do not require to be registered as such with the RBI. However, the Companies shall remain bound by the undertaking filed by all of them. Consequently, sanction is hereby granted to the Scheme under sections 391 and 394 of the Companies Act, 1956. The Petitioners shall however remain bound to comply with the statutory requirements in accordance with law.
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