https://www.taxtmi.com/caselaws?id=335242 The Gujarat HC sanctioned the scheme of amalgamation after finding that the requisite consents were obtained, no objections were filed after publication, the Official Liquidator reported no prejudicial conduct in the transferor company's affairs, and the Regional Director's concerns were answered by additional affidavit. It also held that, where the scheme adopted the pooling of interest method and any deviation from accounting standards was disclosed in the first financial statements, no further condition was required to restrict dividend distribution out of reserves. The scheme was found fair, beneficial to shareholders and creditors, and not contrary to public interest, so the request for an additional dividend restriction was declined. en-us Fri, 11 Nov 2016 00:00:00 +0530 Tue, 29 Nov 2016 08:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335242 The Gujarat HC sanctioned the scheme of amalgamation after finding that the requisite consents were obtained, no objections were filed after publication, the Official Liquidator reported no prejudicial conduct in the transferor company's affairs, and the Regional Director's concerns were answered by additional affidavit. It also held that, where the scheme adopted the pooling of interest method and any deviation from accounting standards was disclosed in the first financial statements, no further condition was required to restrict dividend distribution out of reserves. The scheme was found fair, beneficial to shareholders and creditors, and not contrary to public interest, so the request for an additional dividend restriction was declined. Case-Laws Companies Law Fri, 11 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335242