https://www.taxtmi.com/caselaws?id=234869 In amalgamation proceedings, the Company Court may examine the bona fides and underlying purpose of a proposed scheme and is not bound to act as a mere rubber stamp. Where surrounding materials create doubt about the company's affairs, it may require an investigation before the scheme proceeds. However, the Court cannot itself mandate a particular investigating agency; it may only make the appropriate declaration and leave the choice of agency to the Central Government. On the facts, the materials suggesting limited financial substance and share-premium transactions justified refusal to permit the proposed scheme or convene shareholder meetings at that stage. en-us Wed, 19 Jun 2013 00:00:00 +0530 Tue, 02 Jul 2013 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234869 In amalgamation proceedings, the Company Court may examine the bona fides and underlying purpose of a proposed scheme and is not bound to act as a mere rubber stamp. Where surrounding materials create doubt about the company's affairs, it may require an investigation before the scheme proceeds. However, the Court cannot itself mandate a particular investigating agency; it may only make the appropriate declaration and leave the choice of agency to the Central Government. On the facts, the materials suggesting limited financial substance and share-premium transactions justified refusal to permit the proposed scheme or convene shareholder meetings at that stage. Case-Laws Companies Law Wed, 19 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234869