https://www.taxtmi.com/caselaws?id=186142 The Court allowed the appeals, sanctioning the scheme of arrangement for amalgamation under Sections 391 to 394 of the Companies Act, 1956. The direction prohibiting the use of the amalgamation reserve fund for declaring dividends was set aside. The Court held that utilizing the reserve for dividends was permissible, especially as there were no objections raised by the Regional Director or shareholders. The appellants were directed to bear the costs of the respondent-Regional Director, and the appeals were disposed of accordingly. en-us Mon, 30 Jul 2012 00:00:00 +0530 Mon, 18 Sep 2017 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186142 The Court allowed the appeals, sanctioning the scheme of arrangement for amalgamation under Sections 391 to 394 of the Companies Act, 1956. The direction prohibiting the use of the amalgamation reserve fund for declaring dividends was set aside. The Court held that utilizing the reserve for dividends was permissible, especially as there were no objections raised by the Regional Director or shareholders. The appellants were directed to bear the costs of the respondent-Regional Director, and the appeals were disposed of accordingly. Case-Laws Companies Law Mon, 30 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186142