https://www.taxtmi.com/caselaws?id=102126 The High Court set aside an order sanctioning a scheme of amalgamation under section 391 of the Companies Act between two companies due to lack of consideration for workmen's interests. The court directed a meeting for workmen to express their preferences through a secret ballot, with an offer that if a majority declined employment with the acquiring company, the scheme would be terminated, and retrenchment benefits offered. The court appointed a chairman to oversee the meeting, with only concerned workmen and nominated assistants allowed to attend, and the companies bearing the meeting costs. Further proceedings were adjourned based on the workmen's preferences. en-us Thu, 22 Aug 1991 00:00:00 +0530 Mon, 13 Feb 2012 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102126 The High Court set aside an order sanctioning a scheme of amalgamation under section 391 of the Companies Act between two companies due to lack of consideration for workmen's interests. The court directed a meeting for workmen to express their preferences through a secret ballot, with an offer that if a majority declined employment with the acquiring company, the scheme would be terminated, and retrenchment benefits offered. The court appointed a chairman to oversee the meeting, with only concerned workmen and nominated assistants allowed to attend, and the companies bearing the meeting costs. Further proceedings were adjourned based on the workmen's preferences. Case-Laws Companies Law Thu, 22 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102126