https://www.taxtmi.com/caselaws?id=329813 A scheme of amalgamation linked to conditional RBI approval for small finance bank business was sanctioned, with the court accepting that the appointed date could coincide with the effective date and that the share-exchange ratio could be fixed on a book-value basis as on that date. Section 394 of the Companies Act, 1956 was treated as permitting transfer of undertaking, share allotment, dissolution without winding up, and other incidental or consequential directions needed to make the amalgamation effective. The objections to the appointed date, effective date, exchange ratio, and deferred dissolution disclosed no legal impediment, and the reports of the Regional Director and Official Liquidator showed no prejudice to members or public interest. en-us Mon, 06 Jun 2016 00:00:00 +0530 Sat, 09 Jul 2016 12:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329813 A scheme of amalgamation linked to conditional RBI approval for small finance bank business was sanctioned, with the court accepting that the appointed date could coincide with the effective date and that the share-exchange ratio could be fixed on a book-value basis as on that date. Section 394 of the Companies Act, 1956 was treated as permitting transfer of undertaking, share allotment, dissolution without winding up, and other incidental or consequential directions needed to make the amalgamation effective. The objections to the appointed date, effective date, exchange ratio, and deferred dissolution disclosed no legal impediment, and the reports of the Regional Director and Official Liquidator showed no prejudice to members or public interest. Case-Laws Companies Law Mon, 06 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329813