https://www.taxtmi.com/caselaws?id=108456 The HC considered whether to sanction a scheme of amalgamation under the Companies Act and, applying the statutory scheme, found majority approval at shareholder and creditor meetings, supporting reports from the Official Liquidator and Registrar recording no prejudice, and no illegality or lack of bona fides. The court concluded the scheme preserved existing liabilities and provided the agreed share consideration, and therefore granted sanction under sections 391 and 394 and allowed the petition, overruling minority objections that failed to appear or file substantive opposition. en-us Fri, 28 Feb 2003 00:00:00 +0530 Sat, 31 Mar 2012 16:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108456 The HC considered whether to sanction a scheme of amalgamation under the Companies Act and, applying the statutory scheme, found majority approval at shareholder and creditor meetings, supporting reports from the Official Liquidator and Registrar recording no prejudice, and no illegality or lack of bona fides. The court concluded the scheme preserved existing liabilities and provided the agreed share consideration, and therefore granted sanction under sections 391 and 394 and allowed the petition, overruling minority objections that failed to appear or file substantive opposition. Case-Laws Companies Law Fri, 28 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108456