https://www.taxtmi.com/caselaws?id=328430 The court sanctioned the 'Composite Scheme of Arrangement' under Sections 391 to 394 of the Companies Act, 1956, involving amalgamation and demerger among multiple companies. Despite concerns raised by the Regional Director regarding the absence of a valuation report and the nature of companies involved, the petitioners adequately addressed queries, justifying the scheme. After considering reports and procedural requirements, the court approved the scheme, mandating compliance with Accounting Standard 14. The scheme's terms, including asset transfers, dissolution without winding up, and demerger, were binding on the parties involved, with public notices and a deposit requirement in the Common Pool Fund Account. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 03 Jun 2016 12:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328430 The court sanctioned the 'Composite Scheme of Arrangement' under Sections 391 to 394 of the Companies Act, 1956, involving amalgamation and demerger among multiple companies. Despite concerns raised by the Regional Director regarding the absence of a valuation report and the nature of companies involved, the petitioners adequately addressed queries, justifying the scheme. After considering reports and procedural requirements, the court approved the scheme, mandating compliance with Accounting Standard 14. The scheme's terms, including asset transfers, dissolution without winding up, and demerger, were binding on the parties involved, with public notices and a deposit requirement in the Common Pool Fund Account. Case-Laws Companies Law Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328430