https://www.taxtmi.com/caselaws?id=106681 A company court, when considering sanction of an amalgamation scheme under sections 391 to 394 of the Companies Act, 1956, will not substitute its view for the commercial wisdom of shareholders once statutory procedure, full disclosure, informed majority approval, and fairness are established. The text states that objections based on valuation, share exchange ratio, pending grievances, authorised capital, and board strength were insufficient where they were vague, personal, or unsupported by material showing illegality or unreasonableness. It further notes that implementation-related requirements, including Reserve Bank of India approval and any approval under section 259, are statutory conditions to be addressed within the scheme framework rather than grounds to refuse sanction. en-us Thu, 07 Mar 2002 00:00:00 +0530 Thu, 15 Mar 2012 12:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106681 A company court, when considering sanction of an amalgamation scheme under sections 391 to 394 of the Companies Act, 1956, will not substitute its view for the commercial wisdom of shareholders once statutory procedure, full disclosure, informed majority approval, and fairness are established. The text states that objections based on valuation, share exchange ratio, pending grievances, authorised capital, and board strength were insufficient where they were vague, personal, or unsupported by material showing illegality or unreasonableness. It further notes that implementation-related requirements, including Reserve Bank of India approval and any approval under section 259, are statutory conditions to be addressed within the scheme framework rather than grounds to refuse sanction. Case-Laws Companies Law Thu, 07 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106681