https://www.taxtmi.com/caselaws?id=271344 The Gujarat HC sanctioned a scheme of amalgamation under the Companies Act, 1956 after noting that shareholder and creditor meetings had been dispensed with on the basis of consents and that notice requirements were duly complied with. It accepted that concerns raised on authorised share capital, FEMA and RBI compliance, and income-tax requirements had been addressed, and relied on the Official Liquidator's report that no prejudice would be caused to members or public interest. The Court also noted that the scheme did not extinguish the transferor company's statutory liabilities. Finding the statutory requirements satisfied, it approved the scheme. en-us Mon, 18 Jan 2016 00:00:00 +0530 Wed, 03 Feb 2016 06:48:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271344 The Gujarat HC sanctioned a scheme of amalgamation under the Companies Act, 1956 after noting that shareholder and creditor meetings had been dispensed with on the basis of consents and that notice requirements were duly complied with. It accepted that concerns raised on authorised share capital, FEMA and RBI compliance, and income-tax requirements had been addressed, and relied on the Official Liquidator's report that no prejudice would be caused to members or public interest. The Court also noted that the scheme did not extinguish the transferor company's statutory liabilities. Finding the statutory requirements satisfied, it approved the scheme. Case-Laws Companies Law Mon, 18 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271344