https://www.taxtmi.com/caselaws?id=258182 The court granted sanction to the Scheme of Amalgamation under sections 391 & 394 of the Companies Act, 1956, emphasizing that once statutory requirements are met, interference based on commercial wisdom is not allowed. Objections raised by the Regional Director were dismissed, and concerns regarding tax liabilities were addressed by clarifying the transferee company's responsibility. With no objections, positive reports, and shareholder and creditor approval, the court approved the scheme, directing compliance with statutory requirements and transfer of liabilities to the transferee company. The petition was allowed, facilitating the companies' amalgamation without further action. en-us Tue, 29 Apr 2014 00:00:00 +0530 Thu, 02 Apr 2015 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258182 The court granted sanction to the Scheme of Amalgamation under sections 391 & 394 of the Companies Act, 1956, emphasizing that once statutory requirements are met, interference based on commercial wisdom is not allowed. Objections raised by the Regional Director were dismissed, and concerns regarding tax liabilities were addressed by clarifying the transferee company's responsibility. With no objections, positive reports, and shareholder and creditor approval, the court approved the scheme, directing compliance with statutory requirements and transfer of liabilities to the transferee company. The petition was allowed, facilitating the companies' amalgamation without further action. Case-Laws Companies Law Tue, 29 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258182