https://www.taxtmi.com/article/detailed?id=1862 The court's inherent power to sanction a scheme of amalgamation exists where the scheme conforms to statutory requirements under the Companies Act. In a reported matter the court examined statutory compliance, board approvals, creditor and shareholder positions, reports from the Official Liquidator, and objections from the Regional Director concerning dissolution prayers, memorandum objects, foreign exchange compliance, and authorized capital. Petitioners filed affidavits addressing these objections, including undertakings on FEMA reporting and capital consolidation, and the court found the scheme fair, compliant with statutory provisions, and proceeded to sanction it. en-us Mon, 20 Aug 2012 17:18:30 +0530 Mon, 20 Aug 2012 17:18:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1862 The court's inherent power to sanction a scheme of amalgamation exists where the scheme conforms to statutory requirements under the Companies Act. In a reported matter the court examined statutory compliance, board approvals, creditor and shareholder positions, reports from the Official Liquidator, and objections from the Regional Director concerning dissolution prayers, memorandum objects, foreign exchange compliance, and authorized capital. Petitioners filed affidavits addressing these objections, including undertakings on FEMA reporting and capital consolidation, and the court found the scheme fair, compliant with statutory provisions, and proceeded to sanction it. Articles Corporate Laws / IBC / SEBI Mon, 20 Aug 2012 17:18:30 +0530 https://www.taxtmi.com/article/detailed?id=1862