https://www.taxtmi.com/caselaws?id=270880 The court sanctioned the Scheme of Amalgamation between two companies, with assets and liabilities transferring to the Transferee Company. Procedural requirements were met, and compliance with the Income Tax Act and Accounting Standards was ensured. Concerns about deposits from individuals other than directors and the carry forward/set off of losses were addressed through affidavits. The court found the appointment of an internal auditor unnecessary due to company size, and the petition was disposed of with the Transferee Company agreeing to deposit a sum in the Common Pool Fund Account voluntarily. en-us Mon, 21 Sep 2015 00:00:00 +0530 Tue, 12 Jan 2016 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270880 The court sanctioned the Scheme of Amalgamation between two companies, with assets and liabilities transferring to the Transferee Company. Procedural requirements were met, and compliance with the Income Tax Act and Accounting Standards was ensured. Concerns about deposits from individuals other than directors and the carry forward/set off of losses were addressed through affidavits. The court found the appointment of an internal auditor unnecessary due to company size, and the petition was disposed of with the Transferee Company agreeing to deposit a sum in the Common Pool Fund Account voluntarily. Case-Laws Companies Law Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270880