2016 (8) TMI 1504 - HC - Companies Law

Approval of Amalgamation Scheme - dispensation of meeting of shareholders and creditors for approving the Scheme of Amalgamation - HELD THAT - The Scheme of Amalgamation, Annexure-A is approved. Petition is accordingly allowed - The petitioner Company is hereby dissolved without winding up.

Summary

The High Court of Karnataka approved the Scheme of Amalgamation of a company with another company without the need for a meeting of shareholders and creditors. The Central Government and Official Liquidator had no objections to the scheme, leading to the approval of the amalgamation. The petitioner-company is dissolved without winding up, and the order is to be transmitted to the Registrar of Companies within 30 days.