https://www.taxtmi.com/caselaws?id=260003 The petition filed under Sections 391 to 394 of the Companies Act, 1956 for the sanction of a Scheme of Amalgamation between two companies was granted. The court approved the Scheme, detailing the share exchange ratio and provisions for issuing equity shares. Concerns raised by the Official Liquidator regarding premium on shares and pending proceedings were addressed satisfactorily. With no objections from any party and consent from equity shareholders and creditors, the court sanctioned the Scheme, emphasizing compliance with statutory requirements, non-exemption from stamp duty, and the dissolution of the transferor company post-amalgamation. Costs were imposed on the petitioners, who agreed to deposit the specified amount in the Common Pool Fund of the Official Liquidator. en-us Tue, 05 May 2015 00:00:00 +0530 Thu, 28 May 2015 06:35:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260003 The petition filed under Sections 391 to 394 of the Companies Act, 1956 for the sanction of a Scheme of Amalgamation between two companies was granted. The court approved the Scheme, detailing the share exchange ratio and provisions for issuing equity shares. Concerns raised by the Official Liquidator regarding premium on shares and pending proceedings were addressed satisfactorily. With no objections from any party and consent from equity shareholders and creditors, the court sanctioned the Scheme, emphasizing compliance with statutory requirements, non-exemption from stamp duty, and the dissolution of the transferor company post-amalgamation. Costs were imposed on the petitioners, who agreed to deposit the specified amount in the Common Pool Fund of the Official Liquidator. Case-Laws Companies Law Tue, 05 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260003