https://www.taxtmi.com/caselaws?id=103955 The High Court of Madhya Pradesh, Indore Bench sanctioned the scheme of amalgamation under sections 391 and 394 of the Companies Act, 1956, between Siel Financial Services Ltd. and Shriram Agro-Tech Industries Ltd. The Court found the scheme beneficial to shareholders and not against public interest, approving it with specified conditions to protect all parties involved. Conditions included property rights transfer, addressing tax liabilities, and not absolving past liabilities. The order directed continuation of proceedings, share allotments, capital reduction, and conversion of loans. The transferee-company was required to file the order with the Registrar of Companies. en-us Tue, 11 Nov 1997 00:00:00 +0530 Sat, 25 Feb 2012 11:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103955 The High Court of Madhya Pradesh, Indore Bench sanctioned the scheme of amalgamation under sections 391 and 394 of the Companies Act, 1956, between Siel Financial Services Ltd. and Shriram Agro-Tech Industries Ltd. The Court found the scheme beneficial to shareholders and not against public interest, approving it with specified conditions to protect all parties involved. Conditions included property rights transfer, addressing tax liabilities, and not absolving past liabilities. The order directed continuation of proceedings, share allotments, capital reduction, and conversion of loans. The transferee-company was required to file the order with the Registrar of Companies. Case-Laws Companies Law Tue, 11 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103955