https://www.taxtmi.com/article/detailed?id=214 Service of a petition for sanction of a scheme of amalgamation on the Central Government requires the Government to examine the scheme's mechanics and inform the court about legality, propriety and procedural compliance, including whether accounting standards are being bypassed. The court scrutinised clauses treating acquisition differences and liabilities in ways inconsistent with accounting principles, noted unexplained skewed consideration for minority share acquisitions and discretionary post-sanction implementation powers, and criticised the Regional Director's affidavit for failing to address these technical concerns. en-us Fri, 31 Oct 2008 00:00:00 +0530 Thu, 10 Dec 2009 21:42:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=214 Service of a petition for sanction of a scheme of amalgamation on the Central Government requires the Government to examine the scheme's mechanics and inform the court about legality, propriety and procedural compliance, including whether accounting standards are being bypassed. The court scrutinised clauses treating acquisition differences and liabilities in ways inconsistent with accounting principles, noted unexplained skewed consideration for minority share acquisitions and discretionary post-sanction implementation powers, and criticised the Regional Director's affidavit for failing to address these technical concerns. Articles Corporate Laws / IBC / SEBI Fri, 31 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=214