https://www.taxtmi.com/caselaws?id=326155 The court approves the scheme of arrangement under Sections 391 and 394 of the Companies Act, 1956. The resulting company is directed to take over all liabilities of the transferred undertaking, with shareholders receiving equity shares based on net assets' value. The order emphasizes compliance with statutory requirements, transfer of assets and liabilities, and the resulting company's undertaking to assume all liabilities. Any deficiencies or violations will not impede legal actions against responsible parties, directors, or officials. The order does not exempt payment of stamp duty, taxes, or penalties. en-us Tue, 05 Apr 2016 00:00:00 +0530 Fri, 08 Apr 2016 11:48:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326155 The court approves the scheme of arrangement under Sections 391 and 394 of the Companies Act, 1956. The resulting company is directed to take over all liabilities of the transferred undertaking, with shareholders receiving equity shares based on net assets' value. The order emphasizes compliance with statutory requirements, transfer of assets and liabilities, and the resulting company's undertaking to assume all liabilities. Any deficiencies or violations will not impede legal actions against responsible parties, directors, or officials. The order does not exempt payment of stamp duty, taxes, or penalties. Case-Laws Companies Law Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326155