https://www.taxtmi.com/caselaws?id=108621 The court granted sanction to the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, allowing for the merger of multiple companies with a transferee company. Despite objections raised by the Regional Director regarding the power to amalgamate and concerns about shareholding patterns and tax evasion, these were overruled. With approval from the Board of Directors, equity shareholders, and creditors, and no objections from the Official Liquidator or public notices, the court found no legal impediment to the scheme. Consequently, the transferor companies would dissolve without undergoing winding up proceedings. en-us Thu, 05 Dec 2002 00:00:00 +0530 Tue, 03 Apr 2012 10:24:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108621 The court granted sanction to the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, allowing for the merger of multiple companies with a transferee company. Despite objections raised by the Regional Director regarding the power to amalgamate and concerns about shareholding patterns and tax evasion, these were overruled. With approval from the Board of Directors, equity shareholders, and creditors, and no objections from the Official Liquidator or public notices, the court found no legal impediment to the scheme. Consequently, the transferor companies would dissolve without undergoing winding up proceedings. Case-Laws Companies Law Thu, 05 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108621