https://www.taxtmi.com/caselaws?id=105835 A proposed amalgamation scheme under the Companies Act, 1956 was sanctioned after shareholder approval in meetings convened under court directions, no-objection affidavits from the transferor-company's creditors and the transferee-company's lending institutions, and resolution of objections raised by the Registrar of Companies. The supporting affidavits showed that the authorised share capital had been increased, the transferor's holding in the transferee-company was liable to cancellation under the scheme, and the balance-sheet investment represented equity shares rather than debentures. The Official Liquidator reported that the companies' affairs had not been conducted prejudicially to public interest, and no objections were received after publication, so the scheme was approved. en-us Mon, 11 Dec 2000 00:00:00 +0530 Sat, 10 Mar 2012 11:34:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105835 A proposed amalgamation scheme under the Companies Act, 1956 was sanctioned after shareholder approval in meetings convened under court directions, no-objection affidavits from the transferor-company's creditors and the transferee-company's lending institutions, and resolution of objections raised by the Registrar of Companies. The supporting affidavits showed that the authorised share capital had been increased, the transferor's holding in the transferee-company was liable to cancellation under the scheme, and the balance-sheet investment represented equity shares rather than debentures. The Official Liquidator reported that the companies' affairs had not been conducted prejudicially to public interest, and no objections were received after publication, so the scheme was approved. Case-Laws Companies Law Mon, 11 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105835