https://www.taxtmi.com/caselaws?id=178414 A scheme of amalgamation may be sanctioned where the statutory requirements under sections 391 to 394 of the Companies Act, 1956 are met, the requisite shareholder and creditor meetings are dispensed with on consent affidavits, and notice requirements are duly complied with. The court accepted that the Regional Director's objections on corporate and tax compliance had been addressed and noted the Official Liquidator's report that the transferor company's affairs were not conducted prejudicially to members or the public interest. On that basis, the scheme was found genuine, bona fide, and in the interest of shareholders and creditors, and the amalgamation was sanctioned. en-us Mon, 18 Jan 2016 00:00:00 +0530 Sat, 02 Dec 2017 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178414 A scheme of amalgamation may be sanctioned where the statutory requirements under sections 391 to 394 of the Companies Act, 1956 are met, the requisite shareholder and creditor meetings are dispensed with on consent affidavits, and notice requirements are duly complied with. The court accepted that the Regional Director's objections on corporate and tax compliance had been addressed and noted the Official Liquidator's report that the transferor company's affairs were not conducted prejudicially to members or the public interest. On that basis, the scheme was found genuine, bona fide, and in the interest of shareholders and creditors, and the amalgamation was sanctioned. Case-Laws Companies Law Mon, 18 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178414