https://www.taxtmi.com/caselaws?id=334194 The Court sanctioned the Scheme of Arrangement and Amalgamation under Sections 391 to 394 of the Companies Act, 1956, involving a Transferor Company and a Transferee Company. Despite objections raised by the Official Liquidator regarding the Transferor Company's conduct, including financial discrepancies, the Court approved the scheme. Assets and Liabilities of the Transferor Company were transferred to the Transferee Company, leading to the Transferor Company's dissolution without winding up. Compliance with Accounting Standard-14 was mandated, and the Scheme was deemed binding on all relevant parties. Interested parties could seek necessary directions, and the Petitioner-Companies agreed to deposit a sum in the Common Pool Fund Account of the Official Liquidator. en-us Tue, 18 Oct 2016 00:00:00 +0530 Mon, 07 Nov 2016 13:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334194 The Court sanctioned the Scheme of Arrangement and Amalgamation under Sections 391 to 394 of the Companies Act, 1956, involving a Transferor Company and a Transferee Company. Despite objections raised by the Official Liquidator regarding the Transferor Company's conduct, including financial discrepancies, the Court approved the scheme. Assets and Liabilities of the Transferor Company were transferred to the Transferee Company, leading to the Transferor Company's dissolution without winding up. Compliance with Accounting Standard-14 was mandated, and the Scheme was deemed binding on all relevant parties. Interested parties could seek necessary directions, and the Petitioner-Companies agreed to deposit a sum in the Common Pool Fund Account of the Official Liquidator. Case-Laws Companies Law Tue, 18 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334194