https://www.taxtmi.com/caselaws?id=126964 The court sanctioned the scheme of amalgamation between the transferor and transferee companies under sections 391(1), 393, and 394 of the Companies Act, 1956, despite objections from the Central Government regarding accounting entries/adjustments and the absence of a specific clause in the petitioner's memorandum of association for amalgamation. The court accepted the petitioner's compliance with Accounting Standard 14 and legal precedents allowing amalgamation without a specific provision in the memorandum, ultimately approving the scheme and directing adherence to Accounting Standard 14 for formalizing the amalgamation. en-us Tue, 01 Mar 2011 00:00:00 +0530 Tue, 16 Sep 2014 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126964 The court sanctioned the scheme of amalgamation between the transferor and transferee companies under sections 391(1), 393, and 394 of the Companies Act, 1956, despite objections from the Central Government regarding accounting entries/adjustments and the absence of a specific clause in the petitioner's memorandum of association for amalgamation. The court accepted the petitioner's compliance with Accounting Standard 14 and legal precedents allowing amalgamation without a specific provision in the memorandum, ultimately approving the scheme and directing adherence to Accounting Standard 14 for formalizing the amalgamation. Case-Laws Companies Law Tue, 01 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126964