https://www.taxtmi.com/caselaws?id=111224 The court sanctioned the Scheme of Amalgamation between the petitioner Company, Aksh Optifibre Limited, and Transferor-company, Aksh Broadband Limited, under sections 391 to 394 of the Companies Act, 1956. The court emphasized compliance with statutory procedures, requisite majority vote, fairness, absence of coercion, and commercial reasonableness. Despite objections raised by the Regional Director regarding pending winding-up petitions against the transferor company, the court found the scheme just, fair, and reasonable, not prejudicial to creditors, and in the shareholders' interest. The court allowed the petition, sanctioned the Scheme of Amalgamation, and awarded costs to the Official Liquidator. en-us Fri, 23 Feb 2007 00:00:00 +0530 Sat, 21 Apr 2012 11:12:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111224 The court sanctioned the Scheme of Amalgamation between the petitioner Company, Aksh Optifibre Limited, and Transferor-company, Aksh Broadband Limited, under sections 391 to 394 of the Companies Act, 1956. The court emphasized compliance with statutory procedures, requisite majority vote, fairness, absence of coercion, and commercial reasonableness. Despite objections raised by the Regional Director regarding pending winding-up petitions against the transferor company, the court found the scheme just, fair, and reasonable, not prejudicial to creditors, and in the shareholders' interest. The court allowed the petition, sanctioned the Scheme of Amalgamation, and awarded costs to the Official Liquidator. Case-Laws Companies Law Fri, 23 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111224