https://www.taxtmi.com/caselaws?id=327021 A scheme of amalgamation with consequential reduction of share capital was sanctioned where statutory procedure had been followed, the equity shareholders and secured creditors had approved the arrangement unanimously, and the public shareholders of the listed transferee company had approved it by the requisite majority. The Court noted that the Official Liquidator and Regional Director reports disclosed no prejudice to members or public interest, and objections on SEBI compliance, FEMA/RBI requirements, valuation, preference shareholders, reserves, promoter holding, licences, and income-tax matters were satisfactorily answered. The reduction of share capital was treated as integral to the scheme and not prejudicial to creditors or shareholders. en-us Mon, 25 Apr 2016 00:00:00 +0530 Mon, 02 May 2016 00:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327021 A scheme of amalgamation with consequential reduction of share capital was sanctioned where statutory procedure had been followed, the equity shareholders and secured creditors had approved the arrangement unanimously, and the public shareholders of the listed transferee company had approved it by the requisite majority. The Court noted that the Official Liquidator and Regional Director reports disclosed no prejudice to members or public interest, and objections on SEBI compliance, FEMA/RBI requirements, valuation, preference shareholders, reserves, promoter holding, licences, and income-tax matters were satisfactorily answered. The reduction of share capital was treated as integral to the scheme and not prejudicial to creditors or shareholders. Case-Laws Companies Law Mon, 25 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327021