https://www.taxtmi.com/caselaws?id=99292 Substantial compliance with meeting formalities, including notice, explanatory statement and adjournment, was treated as sufficient where shareholders were adequately informed and the later court-directed meeting cured objection. A scheme of amalgamation was to be sanctioned if it was fair, reasonable and supported by a bona fide statutory majority, with the court declining to speculate on future commercial success unless the scheme was plainly unfair. The transferor-bank was held to retain corporate existence despite acquisition legislation, and its memorandum, read with section 391 of the Companies Act, 1956, was sufficient to permit amalgamation. The scheme was therefore capable of court sanction subject to compliance with directions. en-us Mon, 18 Jun 1973 00:00:00 +0530 Wed, 25 Jan 2012 17:57:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99292 Substantial compliance with meeting formalities, including notice, explanatory statement and adjournment, was treated as sufficient where shareholders were adequately informed and the later court-directed meeting cured objection. A scheme of amalgamation was to be sanctioned if it was fair, reasonable and supported by a bona fide statutory majority, with the court declining to speculate on future commercial success unless the scheme was plainly unfair. The transferor-bank was held to retain corporate existence despite acquisition legislation, and its memorandum, read with section 391 of the Companies Act, 1956, was sufficient to permit amalgamation. The scheme was therefore capable of court sanction subject to compliance with directions. Case-Laws Companies Law Mon, 18 Jun 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99292