https://www.taxtmi.com/caselaws?id=325513 The Court sanctioned the scheme of amalgamation and arrangement under Sections 391(2)-394 of the Companies Act, 1956 between two companies, making it binding on all shareholders and creditors. The objections raised by the Regional Director regarding tax liabilities and employee status were addressed, with the Court ruling that liabilities of the transferor company would transfer to the transferee company. The Court's role was supervisory, ensuring compliance with statutory rules and public interest. Finding no prejudice, the Court approved the scheme, declaring it binding on all parties involved and directing compliance with necessary procedures. en-us Fri, 19 Feb 2016 00:00:00 +0530 Tue, 22 Mar 2016 00:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325513 The Court sanctioned the scheme of amalgamation and arrangement under Sections 391(2)-394 of the Companies Act, 1956 between two companies, making it binding on all shareholders and creditors. The objections raised by the Regional Director regarding tax liabilities and employee status were addressed, with the Court ruling that liabilities of the transferor company would transfer to the transferee company. The Court's role was supervisory, ensuring compliance with statutory rules and public interest. Finding no prejudice, the Court approved the scheme, declaring it binding on all parties involved and directing compliance with necessary procedures. Case-Laws Companies Law Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325513