https://www.taxtmi.com/caselaws?id=103427 A scheme of amalgamation may be sanctioned where the statutory voting requirement under section 391(2) is met by a majority of members present and voting, even if the formal meeting report is incomplete, provided the voting pattern is otherwise clear. Rule 85 of the Companies (Court) Rules, 1959 was treated as inapplicable to a merger simpliciter and did not require a separate reduction of capital procedure. Dissimilar businesses and the transfer of a wholly-owned subsidiary without separate consideration were not treated as defects. In the absence of fraud, illegality, or prejudice to shareholders, creditors, or the public, the scheme was held fit for sanction. en-us Wed, 21 May 1997 00:00:00 +0530 Thu, 22 Mar 2018 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103427 A scheme of amalgamation may be sanctioned where the statutory voting requirement under section 391(2) is met by a majority of members present and voting, even if the formal meeting report is incomplete, provided the voting pattern is otherwise clear. Rule 85 of the Companies (Court) Rules, 1959 was treated as inapplicable to a merger simpliciter and did not require a separate reduction of capital procedure. Dissimilar businesses and the transfer of a wholly-owned subsidiary without separate consideration were not treated as defects. In the absence of fraud, illegality, or prejudice to shareholders, creditors, or the public, the scheme was held fit for sanction. Case-Laws Companies Law Wed, 21 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103427