https://www.taxtmi.com/caselaws?id=213558 The court granted sanction to the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, allowing the demerger of passive infrastructure assets from transferor companies to a transferee company. Despite objections from the Regional Director and the Income-tax Department regarding employee transfers, tax liabilities, and public interest, the court approved the scheme, emphasizing compliance with statutory requirements and the alignment with government policies. The Income-tax Department retained the right to assess tax liabilities independently post-approval, and the petitioners were reminded of their obligation to pay stamp duty. en-us Tue, 29 Mar 2011 00:00:00 +0530 Wed, 06 Feb 2013 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213558 The court granted sanction to the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, allowing the demerger of passive infrastructure assets from transferor companies to a transferee company. Despite objections from the Regional Director and the Income-tax Department regarding employee transfers, tax liabilities, and public interest, the court approved the scheme, emphasizing compliance with statutory requirements and the alignment with government policies. The Income-tax Department retained the right to assess tax liabilities independently post-approval, and the petitioners were reminded of their obligation to pay stamp duty. Case-Laws Companies Law Tue, 29 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213558