Objection rights on corporate amalgamation clarified: Income Tax Department must be consulted before reconstruction schemes proceed. Tax administration identified retrospective-dated amalgamation schemes designed to offset group losses against profits to the detriment of public revenue and experienced rejection of its court intervention for lack of locus standi. Consequently, the Ministry of Corporate Affairs directed Regional Directors to obtain and incorporate comments from the Income Tax Department on reconstruction or amalgamation proposals, inviting those comments within fifteen days, and required Commissioners of Income Tax to promptly transmit objections to the Regional Director for inclusion in responses to courts.