https://www.taxtmi.com/caselaws?id=103373 The court approved the scheme of amalgamation between the transferor and transferee companies despite objections raised by the Official Liquidator, Company Law Board, and Registrar of Companies. The scheme, beneficial for both companies, was sanctioned with modifications ensuring compliance with the Companies Act. The objections regarding share exchange ratio, creditors' consent, and share valuation were addressed, and legal precedents were cited to support the approval. The court clarified that creditors' consent is not mandatory for such amalgamations and directed the dissolution of the transferor company in accordance with the Companies Act. en-us Mon, 30 Dec 1996 00:00:00 +0530 Wed, 22 Feb 2012 15:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103373 The court approved the scheme of amalgamation between the transferor and transferee companies despite objections raised by the Official Liquidator, Company Law Board, and Registrar of Companies. The scheme, beneficial for both companies, was sanctioned with modifications ensuring compliance with the Companies Act. The objections regarding share exchange ratio, creditors' consent, and share valuation were addressed, and legal precedents were cited to support the approval. The court clarified that creditors' consent is not mandatory for such amalgamations and directed the dissolution of the transferor company in accordance with the Companies Act. Case-Laws Companies Law Mon, 30 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103373