Amalgamation scheme sanctioned after no objections from regulatory and tax authorities were received.

A proposed amalgamation scheme was sanctioned after the Central Government, through the Registrar of Companies, reported no objection and the Income Tax Department raised none after the scheme was circulated for comments. In light of the absence of objections from the relevant authorities, the court accepted the prayer for sanction and granted the relief sought. The company petition was accordingly allowed and disposed of with sanction of the amalgamation in terms of the petition.

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Issues: Whether the proposed scheme of amalgamation deserved sanction.

Analysis: The Central Government reported no objection through the Registrar of Companies. No objection was received from the Income Tax Department after the scheme was forwarded for comments. In these circumstances, the prayer for sanction of the scheme was accepted.

Conclusion: The scheme of amalgamation was sanctioned in terms of the prayers in the petition.

Final Conclusion: The petition was allowed and the company petition was disposed of after granting the relief sought for amalgamation.

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