https://www.taxtmi.com/caselaws?id=98908 A scheme of amalgamation was described as satisfying court-sanction requirements because it had the requisite shareholder approval, the class was fairly represented, no material showed coercion of the minority, and the arrangement appeared reasonable to businesspersons. On the Monopolies and Restrictive Trade Practices Act issue, prior Central Government approval was said to be unnecessary because an "undertaking" exists only where a company is actually engaged in production, supply, distribution, control of goods, or provision of service. Temporary deployment of compensation assets, deposits, loans, and incidental share purchases pending amalgamation was treated as insufficient to amount to carrying on business. en-us Fri, 10 Dec 1971 00:00:00 +0530 Tue, 24 Jan 2012 15:34:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98908 A scheme of amalgamation was described as satisfying court-sanction requirements because it had the requisite shareholder approval, the class was fairly represented, no material showed coercion of the minority, and the arrangement appeared reasonable to businesspersons. On the Monopolies and Restrictive Trade Practices Act issue, prior Central Government approval was said to be unnecessary because an "undertaking" exists only where a company is actually engaged in production, supply, distribution, control of goods, or provision of service. Temporary deployment of compensation assets, deposits, loans, and incidental share purchases pending amalgamation was treated as insufficient to amount to carrying on business. Case-Laws Companies Law Fri, 10 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98908