https://www.taxtmi.com/caselaws?id=109387 The Court approved the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, allowing the dissolution of the Transferor Company and its merger with the Transferee Company without winding up. The Court found that obtaining a "No Objection" letter from the Stock Exchange was not mandatory and accepted the consents from the lead bank and unsecured creditors, addressing objections raised by the Central Government. The companies were deemed to be acting in the best interests of their stakeholders, leading to the approval of the scheme as proposed by the companies' directors and shareholders. en-us Fri, 27 Feb 2004 00:00:00 +0530 Mon, 09 Apr 2012 14:00:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109387 The Court approved the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, allowing the dissolution of the Transferor Company and its merger with the Transferee Company without winding up. The Court found that obtaining a "No Objection" letter from the Stock Exchange was not mandatory and accepted the consents from the lead bank and unsecured creditors, addressing objections raised by the Central Government. The companies were deemed to be acting in the best interests of their stakeholders, leading to the approval of the scheme as proposed by the companies' directors and shareholders. Case-Laws Companies Law Fri, 27 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109387