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2021 (1) TMI 573 - Tri - Companies LawSeeking sanction of the proposed scheme of amalgamation - section 232 read with section 230 of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 - HELD THAT:- On perusal of the scheme, the documents produced on record and the undertakings given by the petitioner-companies by way of affidavits, the scheme of amalgamation appears to be fair and reasonable and is not contrary to public policy and not violative of any provisions of law. All the statutory compliances have been made under sections 230 to 232 of the Companies Act, 2013. The scheme of amalgamation with appointed date as April 1, 2019 is hereby sanctioned. The same shall be binding on the petitioners and their respective shareholders, secured creditors, unsecured creditors/trade creditors, employees and all concerned - Petition allowed.
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