https://www.taxtmi.com/caselaws?id=270673 A scheme of arrangement for demerger and vesting of a transferor company's undertakings in the resulting companies was sanctioned after the objections of the Regional Director, Official Liquidator and SEBI were addressed. The petitioners filed affidavits and undertakings covering FIPB approval, compliance with the Foreign Exchange Management Act, RBI requirements, continuation of prosecution proceedings, and treatment of tax and other liabilities under the scheme. SEBI's comments were confined to general observations under its circulars and did not amount to disapproval. As the Competition Commission had already approved the proposal and no surviving objection remained, the restructuring was approved and the undertakings vested in the transferee companies. en-us Mon, 14 Dec 2015 00:00:00 +0530 Tue, 12 Jan 2016 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270673 A scheme of arrangement for demerger and vesting of a transferor company's undertakings in the resulting companies was sanctioned after the objections of the Regional Director, Official Liquidator and SEBI were addressed. The petitioners filed affidavits and undertakings covering FIPB approval, compliance with the Foreign Exchange Management Act, RBI requirements, continuation of prosecution proceedings, and treatment of tax and other liabilities under the scheme. SEBI's comments were confined to general observations under its circulars and did not amount to disapproval. As the Competition Commission had already approved the proposal and no surviving objection remained, the restructuring was approved and the undertakings vested in the transferee companies. Case-Laws Companies Law Mon, 14 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270673