https://www.taxtmi.com/caselaws?id=270792 The High Court sanctioned a Scheme of Amalgamation involving multiple companies, vesting assets and liabilities in the Amalgamated Company and dissolving the Amalgamating Companies without winding up. The Court emphasized compliance with procedural requirements under the Income Tax Act, binding nature of the Scheme on shareholders and creditors, and liberty to apply for directions. The parties agreed to make a voluntary deposit in the Common Pool Fund Account. Pending litigations were addressed in the amended Scheme, ensuring management by the Amalgamated Company. The Court confirmed no objections and granted the Scheme, concluding the petition. en-us Mon, 12 Oct 2015 00:00:00 +0530 Sat, 16 Jan 2016 07:48:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270792 The High Court sanctioned a Scheme of Amalgamation involving multiple companies, vesting assets and liabilities in the Amalgamated Company and dissolving the Amalgamating Companies without winding up. The Court emphasized compliance with procedural requirements under the Income Tax Act, binding nature of the Scheme on shareholders and creditors, and liberty to apply for directions. The parties agreed to make a voluntary deposit in the Common Pool Fund Account. Pending litigations were addressed in the amended Scheme, ensuring management by the Amalgamated Company. The Court confirmed no objections and granted the Scheme, concluding the petition. Case-Laws Companies Law Mon, 12 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270792