https://www.taxtmi.com/caselaws?id=105016 The court approved the amalgamation of 13 companies under sections 391(2) and 394 of the Companies Act, 1956. The scheme involved transferring assets, liabilities, workmen, and employees to a single company, ensuring no prejudice to public interest, creditors, or shareholders. The amalgamation aimed at reducing overheads, enhancing productivity, and creating a stronger financial base for growth. After evaluating reports and arguments, the court found the scheme fair, reasonable, and in line with public policy. The court sanctioned the scheme, binding all equity shareholders and creditors, leading to the dissolution of the transferor-companies without winding up. en-us Tue, 16 Nov 1999 00:00:00 +0530 Fri, 02 Mar 2012 11:52:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105016 The court approved the amalgamation of 13 companies under sections 391(2) and 394 of the Companies Act, 1956. The scheme involved transferring assets, liabilities, workmen, and employees to a single company, ensuring no prejudice to public interest, creditors, or shareholders. The amalgamation aimed at reducing overheads, enhancing productivity, and creating a stronger financial base for growth. After evaluating reports and arguments, the court found the scheme fair, reasonable, and in line with public policy. The court sanctioned the scheme, binding all equity shareholders and creditors, leading to the dissolution of the transferor-companies without winding up. Case-Laws Companies Law Tue, 16 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105016