https://www.taxtmi.com/caselaws?id=218902 The Court sanctioned the scheme of amalgamation under Section 391 of the Companies Act, 1956, despite objections from the Central Government regarding share premium and the direction for investigation by the Directorate of Revenue Intelligence. The Court emphasized the need for legal compliance and shareholder protection, rejecting unfounded suspicions as grounds for investigation. The judgment clarified the applicability of money laundering provisions and highlighted the Central Government's right to seek satisfactory responses before approving amalgamation schemes. The Central Government was required to file an affidavit addressing the scheme's merit and any irregularities, ensuring transparency and regulatory compliance in the process. en-us Tue, 14 Aug 2012 00:00:00 +0530 Wed, 13 Feb 2013 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218902 The Court sanctioned the scheme of amalgamation under Section 391 of the Companies Act, 1956, despite objections from the Central Government regarding share premium and the direction for investigation by the Directorate of Revenue Intelligence. The Court emphasized the need for legal compliance and shareholder protection, rejecting unfounded suspicions as grounds for investigation. The judgment clarified the applicability of money laundering provisions and highlighted the Central Government's right to seek satisfactory responses before approving amalgamation schemes. The Central Government was required to file an affidavit addressing the scheme's merit and any irregularities, ensuring transparency and regulatory compliance in the process. Case-Laws Companies Law Tue, 14 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218902