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2021 (7) TMI 33 - Tri - Companies LawSanction of Scheme of Amalgamation - Sections 230 to 232 of the Companies Act, 2013, read with Companies (Compromises, Arrangements And Amalgamation) Rules, 2016 - HELD THAT:- From a perusal of the material brought on record, it appears that the Scheme of Amalgamation is fair, reasonable and is not detrimental to the Members or Creditors or contrary to public policy. Further, as per the Petition, the Scheme in question will bring consolidation and synergies in business operations; enhance of the scale of operations and reduce overheads, operational, administrative, managerial and other expenditure, will lead to operational rationalization, organizational efficiency and optimal utilization of various resources, etc. On a consideration of the facts of the case, which are not being elaborated here to avoid duplication and repetition, the procedure specified in sub-sections (1) and (2) of section 232 of the Companies Act, 2013 has been complied with, and hence the Scheme of Amalgamation, as approved by the Boards of Transferor Company, is hereby sanctioned. Application allowed.
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