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HC SANCTIONS DEMERGER SCHEME, REJECTS REGIONAL DIRECTOR'S VIEW TO EVALUATE ASSETS OF DEMERGED UNDERTAKING

19 April, 2016

The honorable Punjab & Haryana High Court in, Alchemist Hospitals Ltd., In re, held that, where in a scheme of arrangement all assets and properties and all debts and liabilities of demerged undertaking were to be transferred to resulting company at value appearing in books of account, there was no need to evaluate assets and liabilities of demerged undertaking as stated by Regional Director and scheme was to be sanctioned.

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