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2022 (2) TMI 21 - Tri - Companies LawSanction of Scheme of Amalgamation - Sections 230-232 of the Companies Act, 2013 - HELD THAT:- After analyzing the Scheme in detail, this Tribunal is of the considered view that the scheme as contemplated amongst the Transferor and Transferee companies seems to be prima facie beneficial to the Companies and will not be in any way detrimental to the interest of the shareholders of the Companies. In view of the absence of any other objections having been placed on record before this Tribunal and since all the requisite statutory compliances having been fulfilled, this Tribunal sanctions the Scheme of Arrangement appended as Annexure "1" with the Company Petition as well as the prayer made therein. The Scheme stands approved, subject to the approval by the NCLT, Bangalore Bench in respect of the Transferor Company. Application allowed.
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