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2020 (10) TMI 1109 - Tri - Companies LawSanction of Scheme of amalgamation - section 230-232 of Companies Act, 2013 - HELD THAT:- The present Scheme is an arrangement between the Transferor Company No.1, Transferor Company No.2 and their shareholders as contemplated under Section 230(1)(b) and not in accordance with the provisions of Section 230(1)(a) of the Companies Act, 2013 as there is no Compromise and/or Arrangement with creditors as no sacrifice is called for. The rights of the creditors will not be affected at all. The copy of the Scheme is annexed as Exhibit-“O1” to the Application. In view of the fact that the Applicant Companies have obtained consent affidavits from all their creditors, the meetings of the respective creditors of the Applicant Companies are hereby dispensed with as prayed for - Directions for various meetings to be convened issued - scheme sanctioned.
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