https://www.taxtmi.com/caselaws?id=99175 A scheme of amalgamation between inter-connected companies did not require prior Central Government approval under section 23 of the Monopolies and Restrictive Trade Practices Act, 1969 because neither company was a dominant undertaking, the relevant asset threshold was not crossed, and the companies did not produce the same goods; the section 23(3) exception therefore applied. The amalgamation was also capable of sanction under sections 391 and 394 of the Companies Act, 1956 because the statutory procedure was followed, the secured and unsecured creditors approved the scheme by the requisite majority, and the merger of the wholly-owned subsidiary with its holding company was commercially sensible. Sanction was granted subject to approval by the competent High Court for the transferee-company. en-us Fri, 24 Aug 1973 00:00:00 +0530 Wed, 25 Jan 2012 14:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99175 A scheme of amalgamation between inter-connected companies did not require prior Central Government approval under section 23 of the Monopolies and Restrictive Trade Practices Act, 1969 because neither company was a dominant undertaking, the relevant asset threshold was not crossed, and the companies did not produce the same goods; the section 23(3) exception therefore applied. The amalgamation was also capable of sanction under sections 391 and 394 of the Companies Act, 1956 because the statutory procedure was followed, the secured and unsecured creditors approved the scheme by the requisite majority, and the merger of the wholly-owned subsidiary with its holding company was commercially sensible. Sanction was granted subject to approval by the competent High Court for the transferee-company. Case-Laws Companies Law Fri, 24 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99175