https://www.taxtmi.com/caselaws?id=109672 Section 394(4) of the Companies Act, 1956 permits an amalgamation scheme where the transferee is a company within the Act and the transferor is any body corporate, including a company incorporated outside India. Read with section 2(7), which includes a foreign incorporated company within "body corporate," the provision supports sanction of a merger between an Indian company and a foreign company, subject to compliance with the laws of both jurisdictions. The text also notes that absence of objections from shareholders and the Central Government, together with foreign law provisions making the merger effective on filing of the sanctioned order, supported approval of the scheme. en-us Wed, 13 Aug 2003 00:00:00 +0530 Wed, 11 Apr 2012 13:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109672 Section 394(4) of the Companies Act, 1956 permits an amalgamation scheme where the transferee is a company within the Act and the transferor is any body corporate, including a company incorporated outside India. Read with section 2(7), which includes a foreign incorporated company within "body corporate," the provision supports sanction of a merger between an Indian company and a foreign company, subject to compliance with the laws of both jurisdictions. The text also notes that absence of objections from shareholders and the Central Government, together with foreign law provisions making the merger effective on filing of the sanctioned order, supported approval of the scheme. Case-Laws Companies Law Wed, 13 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109672