https://www.taxtmi.com/caselaws?id=108533 A sanctioned scheme of amalgamation transfers the relevant business or property to the transferee-company, and the transferor-company ceases as a separate legal entity once the amalgamation takes effect. Proceedings arising from the transferred business may therefore be prosecuted by the amalgamated company, even if they were originally instituted against the transferor-company. The amalgamation operates as a judgment in rem and binds third parties, including tenants, who cannot ignore it or challenge maintainability without having sought substitution at the proper stage. The tenant's revision against the maintainability objection was accordingly rejected. en-us Fri, 28 Mar 2003 00:00:00 +0530 Mon, 02 Apr 2012 11:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108533 A sanctioned scheme of amalgamation transfers the relevant business or property to the transferee-company, and the transferor-company ceases as a separate legal entity once the amalgamation takes effect. Proceedings arising from the transferred business may therefore be prosecuted by the amalgamated company, even if they were originally instituted against the transferor-company. The amalgamation operates as a judgment in rem and binds third parties, including tenants, who cannot ignore it or challenge maintainability without having sought substitution at the proper stage. The tenant's revision against the maintainability objection was accordingly rejected. Case-Laws Companies Law Fri, 28 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108533