https://www.taxtmi.com/caselaws?id=108227 The court sanctioned the scheme of amalgamation under sections 391/394 of the Companies Act, 1956, allowing the transferor-company to merge into the transferee-company. Despite an objecting creditor raising concerns about unpaid dues, the court rejected the argument that it lacked power to direct payment or security for objecting creditors. The court emphasized that objecting creditors must demonstrate adverse effects or unjustness in the scheme, which the objecting creditor failed to establish. With no other objections raised, the court approved the scheme, awarding costs to the Official Liquidator, Regional Director, and the companies involved. en-us Thu, 26 Jun 2003 00:00:00 +0530 Fri, 30 Mar 2012 15:39:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108227 The court sanctioned the scheme of amalgamation under sections 391/394 of the Companies Act, 1956, allowing the transferor-company to merge into the transferee-company. Despite an objecting creditor raising concerns about unpaid dues, the court rejected the argument that it lacked power to direct payment or security for objecting creditors. The court emphasized that objecting creditors must demonstrate adverse effects or unjustness in the scheme, which the objecting creditor failed to establish. With no other objections raised, the court approved the scheme, awarding costs to the Official Liquidator, Regional Director, and the companies involved. Case-Laws Companies Law Thu, 26 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108227