https://www.taxtmi.com/caselaws?id=335055 The High Court granted sanction to a Scheme of Amalgamation involving multiple Transferor Companies with a Transferee Company under Sections 391 to 394 of the Companies Act, 1956. The Court dispensed with Equity Shareholders' meetings for Transferor Companies, accepted explanations provided by the Transferee Company regarding compliance with the Income Tax Act and Rules, and confirmed the affairs of Transferor Companies were in order. The Court emphasized the preservation of records and compliance with statutory liabilities post-sanction. Costs were determined for the petitions, and necessary documents were instructed to be lodged for stamp duty adjudication within a specified timeframe. The petitions were disposed of, concluding the legal proceedings. en-us Thu, 17 Nov 2016 00:00:00 +0530 Fri, 25 Nov 2016 11:00:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335055 The High Court granted sanction to a Scheme of Amalgamation involving multiple Transferor Companies with a Transferee Company under Sections 391 to 394 of the Companies Act, 1956. The Court dispensed with Equity Shareholders' meetings for Transferor Companies, accepted explanations provided by the Transferee Company regarding compliance with the Income Tax Act and Rules, and confirmed the affairs of Transferor Companies were in order. The Court emphasized the preservation of records and compliance with statutory liabilities post-sanction. Costs were determined for the petitions, and necessary documents were instructed to be lodged for stamp duty adjudication within a specified timeframe. The petitions were disposed of, concluding the legal proceedings. Case-Laws Companies Law Thu, 17 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335055