https://www.taxtmi.com/caselaws?id=103359 The court approved the scheme of amalgamation between SPS Pharma Ltd. and Targof Pure Drugs Ltd., with all debts and liabilities transferring to the transferee company. The court held that objections by the Registrar of Companies and the Official Liquidator did not affect the maintainability of the petitions under section 394 of the Companies Act, 1956. Compliance with Accounting Standards (AS-14) was recognized, and tax implications were left open. The court sanctioned the amalgamation, with the transferor company to be dissolved, and allowed for modification if needed, without awarding costs. en-us Mon, 18 Nov 1996 00:00:00 +0530 Wed, 22 Feb 2012 14:59:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103359 The court approved the scheme of amalgamation between SPS Pharma Ltd. and Targof Pure Drugs Ltd., with all debts and liabilities transferring to the transferee company. The court held that objections by the Registrar of Companies and the Official Liquidator did not affect the maintainability of the petitions under section 394 of the Companies Act, 1956. Compliance with Accounting Standards (AS-14) was recognized, and tax implications were left open. The court sanctioned the amalgamation, with the transferor company to be dissolved, and allowed for modification if needed, without awarding costs. Case-Laws Companies Law Mon, 18 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103359