https://www.taxtmi.com/caselaws?id=102726 A scheme of amalgamation under sections 391(2) and 394 of the Companies Act, 1956 was sanctioned where shareholders and creditors of both companies had approved it, and the Official Liquidator and Central Government reported no prejudice to members or the public interest. The objection that the scheme could not take effect from 1 April 1995 because audited balance sheets for the year ended 31 March 1995 were unavailable was rejected, since those accounts could not have been available when the proposal was considered. The scheme was therefore sanctioned to operate from 1 April 1995. en-us Fri, 31 Mar 1995 00:00:00 +0530 Wed, 15 Feb 2012 18:06:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102726 A scheme of amalgamation under sections 391(2) and 394 of the Companies Act, 1956 was sanctioned where shareholders and creditors of both companies had approved it, and the Official Liquidator and Central Government reported no prejudice to members or the public interest. The objection that the scheme could not take effect from 1 April 1995 because audited balance sheets for the year ended 31 March 1995 were unavailable was rejected, since those accounts could not have been available when the proposal was considered. The scheme was therefore sanctioned to operate from 1 April 1995. Case-Laws Companies Law Fri, 31 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102726