https://www.taxtmi.com/caselaws?id=112311 The court rejected the petitioners' application for sanction of a scheme of amalgamation due to concerns over unusual clauses, particularly Clause 9, which reserved the right to revoke the scheme post-court sanction. The Central Government's role in scrutinizing proposed schemes was emphasized for procedural compliance and prevention of misuse. Lack of assistance from the Central Government in assessing accounting aspects highlighted the need for expertise in evaluating financial clauses. The court stressed the importance of thorough scrutiny and compliance in scheme approvals and suggested measures for future cases to address oversight and lack of assistance. en-us Fri, 21 Sep 2007 00:00:00 +0530 Thu, 25 Dec 2014 22:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112311 The court rejected the petitioners' application for sanction of a scheme of amalgamation due to concerns over unusual clauses, particularly Clause 9, which reserved the right to revoke the scheme post-court sanction. The Central Government's role in scrutinizing proposed schemes was emphasized for procedural compliance and prevention of misuse. Lack of assistance from the Central Government in assessing accounting aspects highlighted the need for expertise in evaluating financial clauses. The court stressed the importance of thorough scrutiny and compliance in scheme approvals and suggested measures for future cases to address oversight and lack of assistance. Case-Laws Companies Law Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112311