https://www.taxtmi.com/caselaws?id=108285 A proposed amalgamation under the Companies Act, 1956 was approved because the equity shareholders of the transferor and transferee companies unanimously consented, no creditors existed, and no objections were received after notice publication. The Official Liquidator reported no prejudicial conduct in the affairs of the transferor companies, and the Regional Director raised no objection. On that record, the court found the requirements of the proviso to section 391(2) satisfied and saw no legal impediment to approval. The scheme was sanctioned, and the transferor companies were directed to stand dissolved without winding up on filing the certified order with the Registrar of Companies. en-us Mon, 04 Aug 2003 00:00:00 +0530 Fri, 30 Mar 2012 17:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108285 A proposed amalgamation under the Companies Act, 1956 was approved because the equity shareholders of the transferor and transferee companies unanimously consented, no creditors existed, and no objections were received after notice publication. The Official Liquidator reported no prejudicial conduct in the affairs of the transferor companies, and the Regional Director raised no objection. On that record, the court found the requirements of the proviso to section 391(2) satisfied and saw no legal impediment to approval. The scheme was sanctioned, and the transferor companies were directed to stand dissolved without winding up on filing the certified order with the Registrar of Companies. Case-Laws Companies Law Mon, 04 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108285