https://www.taxtmi.com/caselaws?id=213365 A scheme of amalgamation does not override separate statutory or contractual conditions governing transfer of licences. The Court treated the licensor-regulator as a necessary and interested party, and held that suppression of licence conditions, merger guidelines and rejection letters amounted to fraud on the Court. Because the omitted material was material to sanction, the sanction order could be revisited and modified rather than fully undone, especially where the merger had already been acted upon and third-party consequences had arisen. It further held that merger of companies does not automatically merge telecom licences, and that prior permission of the licensor was required before overlapping licences could vest in the transferee. en-us Mon, 04 Jul 2011 00:00:00 +0530 Fri, 08 Feb 2013 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213365 A scheme of amalgamation does not override separate statutory or contractual conditions governing transfer of licences. The Court treated the licensor-regulator as a necessary and interested party, and held that suppression of licence conditions, merger guidelines and rejection letters amounted to fraud on the Court. Because the omitted material was material to sanction, the sanction order could be revisited and modified rather than fully undone, especially where the merger had already been acted upon and third-party consequences had arisen. It further held that merger of companies does not automatically merge telecom licences, and that prior permission of the licensor was required before overlapping licences could vest in the transferee. Case-Laws Companies Law Mon, 04 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213365