https://www.taxtmi.com/caselaws?id=112194 The Bombay High Court sanctioned the scheme of amalgamation and demerger of two transferor companies with a transferee company, despite objections from the Central Government regarding the increase in authorized capital. The court dispensed with the need for meetings of equity shareholders, unsecured creditors, and secured creditors for all companies involved. Emphasizing compliance with statutory provisions and the bona fides of the scheme, the court clarified that no additional stamp duty or registration charges were required post-sanction. It directed the transferee company to adhere to Companies Act procedures, pay necessary stamp duty, and consider previously paid stamp duty, ensuring equity and good conscience in the process. en-us Wed, 27 Jun 2007 00:00:00 +0530 Fri, 27 Apr 2012 10:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112194 The Bombay High Court sanctioned the scheme of amalgamation and demerger of two transferor companies with a transferee company, despite objections from the Central Government regarding the increase in authorized capital. The court dispensed with the need for meetings of equity shareholders, unsecured creditors, and secured creditors for all companies involved. Emphasizing compliance with statutory provisions and the bona fides of the scheme, the court clarified that no additional stamp duty or registration charges were required post-sanction. It directed the transferee company to adhere to Companies Act procedures, pay necessary stamp duty, and consider previously paid stamp duty, ensuring equity and good conscience in the process. Case-Laws Companies Law Wed, 27 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112194