https://www.taxtmi.com/caselaws?id=100151 A scheme of amalgamation was treated as sanctionable where the requisite shareholder majority had approved it in good faith after properly convened and publicised meetings, with no evidence of coercion, fraud or undue influence. The valuation and exchange ratio were accepted on the basis of recognised chartered accountants' reports, and the Court did not substitute its own commercial assessment for that of the shareholders. Public interest was supported by approvals from relevant authorities, the transferee's solvency, transfer of liabilities under the scheme, and the absence of creditor objections. The scheme was therefore regarded as fair, reasonable and beneficial, particularly as a means of reviving a sick industrial unit. en-us Fri, 14 Mar 1980 00:00:00 +0530 Tue, 31 Jan 2012 13:31:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100151 A scheme of amalgamation was treated as sanctionable where the requisite shareholder majority had approved it in good faith after properly convened and publicised meetings, with no evidence of coercion, fraud or undue influence. The valuation and exchange ratio were accepted on the basis of recognised chartered accountants' reports, and the Court did not substitute its own commercial assessment for that of the shareholders. Public interest was supported by approvals from relevant authorities, the transferee's solvency, transfer of liabilities under the scheme, and the absence of creditor objections. The scheme was therefore regarded as fair, reasonable and beneficial, particularly as a means of reviving a sick industrial unit. Case-Laws Companies Law Fri, 14 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100151