https://www.taxtmi.com/caselaws?id=333445 A scheme of arrangement in the nature of amalgamation, along with consequential reduction of the transferee company's share capital, was sanctioned after the requisite equity shareholder and creditor approvals were obtained or dispensed with through written consents. No objections were received after public notice, the Official Liquidator reported no prejudicial conduct in the transferor company's affairs, and the Regional Director's observations were met and found not to survive. The Court recorded that the scheme was in the interests of the shareholders and creditors of both companies, was not contrary to public interest, and that the share capital reduction was consequential to cancellation of shares held by the transferor company without prejudice to creditors. en-us Fri, 07 Oct 2016 00:00:00 +0530 Fri, 14 Oct 2016 13:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333445 A scheme of arrangement in the nature of amalgamation, along with consequential reduction of the transferee company's share capital, was sanctioned after the requisite equity shareholder and creditor approvals were obtained or dispensed with through written consents. No objections were received after public notice, the Official Liquidator reported no prejudicial conduct in the transferor company's affairs, and the Regional Director's observations were met and found not to survive. The Court recorded that the scheme was in the interests of the shareholders and creditors of both companies, was not contrary to public interest, and that the share capital reduction was consequential to cancellation of shares held by the transferor company without prejudice to creditors. Case-Laws Companies Law Fri, 07 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333445