https://www.taxtmi.com/caselaws?id=111303 In an amalgamation of a wholly owned subsidiary with its holding company, the Court accepted that a creditors' meeting was unnecessary where creditors were not materially prejudiced and the transferee's financial position adequately protected their interests. It also held that the transferor's authorised capital could be clubbed with the transferee's capital under the scheme without a fresh filing fee, because the vesting under the amalgamation order carried over the relevant corporate incidents by operation of law. After reviewing the financial position, shareholder consent, Official Liquidator's report and absence of legal infirmity, the Court found the scheme fair, workable and not contrary to public interest, and sanctioned it. en-us Fri, 21 Sep 2007 00:00:00 +0530 Thu, 25 Dec 2014 22:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111303 In an amalgamation of a wholly owned subsidiary with its holding company, the Court accepted that a creditors' meeting was unnecessary where creditors were not materially prejudiced and the transferee's financial position adequately protected their interests. It also held that the transferor's authorised capital could be clubbed with the transferee's capital under the scheme without a fresh filing fee, because the vesting under the amalgamation order carried over the relevant corporate incidents by operation of law. After reviewing the financial position, shareholder consent, Official Liquidator's report and absence of legal infirmity, the Court found the scheme fair, workable and not contrary to public interest, and sanctioned it. Case-Laws Companies Law Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111303