https://www.taxtmi.com/caselaws?id=106614 The Court approved the scheme of amalgamation despite objections regarding violations of sections 77 and 42 of the Companies Act. The Court found that sections 391 to 394 constituted a complete code for amalgamation, not controlled by sections 42 and 77. It noted that the practical effect of the merger could be achieved through a different share issuance structure. Consequently, the Court ruled in favor of the companies, approving the scheme as beneficial to the companies and their members. The petitions were granted, and the scheme was allowed and disposed of accordingly. en-us Thu, 24 Jan 2002 00:00:00 +0530 Mon, 05 Mar 2018 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106614 The Court approved the scheme of amalgamation despite objections regarding violations of sections 77 and 42 of the Companies Act. The Court found that sections 391 to 394 constituted a complete code for amalgamation, not controlled by sections 42 and 77. It noted that the practical effect of the merger could be achieved through a different share issuance structure. Consequently, the Court ruled in favor of the companies, approving the scheme as beneficial to the companies and their members. The petitions were granted, and the scheme was allowed and disposed of accordingly. Case-Laws Companies Law Thu, 24 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106614