https://www.taxtmi.com/caselaws?id=103021 The Court approved the scheme for the amalgamation of two companies, with the transferee company taking over all liabilities and employees of the transferor company. Despite initial objections from a secured creditor, a mutual agreement was reached, leading to the scheme's sanction. The Court overruled objections based on eroded capital and accumulated losses, considering the financial stability of the transferee company. The scheme was sanctioned with modifications, resulting in the dissolution of the transferor company without winding up. Costs were awarded to the Official Liquidator and Regional Director, and the legal process was efficiently concluded. en-us Thu, 07 Dec 1995 00:00:00 +0530 Mon, 20 Feb 2012 12:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103021 The Court approved the scheme for the amalgamation of two companies, with the transferee company taking over all liabilities and employees of the transferor company. Despite initial objections from a secured creditor, a mutual agreement was reached, leading to the scheme's sanction. The Court overruled objections based on eroded capital and accumulated losses, considering the financial stability of the transferee company. The scheme was sanctioned with modifications, resulting in the dissolution of the transferor company without winding up. Costs were awarded to the Official Liquidator and Regional Director, and the legal process was efficiently concluded. Case-Laws Companies Law Thu, 07 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103021