https://www.taxtmi.com/caselaws?id=99366 Prior approval of the Central Government was not required for the proposed amalgamation because the transferor-bank was not an "undertaking" within section 2(v) of the Monopolies and Restrictive Trade Practices Act, 1969. Actual engagement in production, supply, distribution or services at the material time was necessary; mere capacity to do business or powers in the memorandum were insufficient. A temporary interruption could preserve undertaking status only where there was an intention to resume business, but here the main business had ceased and amalgamation was chosen instead of continued trading. Investment of compensation funds, short-term deposits, loans and share investments did not amount to relevant business activity on these facts. en-us Tue, 10 Aug 1976 00:00:00 +0530 Fri, 27 Jan 2012 11:13:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99366 Prior approval of the Central Government was not required for the proposed amalgamation because the transferor-bank was not an "undertaking" within section 2(v) of the Monopolies and Restrictive Trade Practices Act, 1969. Actual engagement in production, supply, distribution or services at the material time was necessary; mere capacity to do business or powers in the memorandum were insufficient. A temporary interruption could preserve undertaking status only where there was an intention to resume business, but here the main business had ceased and amalgamation was chosen instead of continued trading. Investment of compensation funds, short-term deposits, loans and share investments did not amount to relevant business activity on these facts. Case-Laws Companies Law Tue, 10 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99366