https://www.taxtmi.com/caselaws?id=335542 The Court approved and sanctioned the Scheme of Arrangement between two companies, finding it genuine and in the interest of shareholders and creditors. Meetings for various stakeholders were dispensed with based on consent affidavits. Compliance concerns raised by the Regional Director regarding RBI guidelines, assets and liabilities details, and the Income Tax Act were addressed satisfactorily. The Resulting Company demonstrated compliance, and the Scheme was confirmed to be in line with the Income Tax Act. The Court quantified fees to be paid by the Resulting Company and directed relevant authorities to act on the order and authenticated Scheme. en-us Thu, 24 Nov 2016 00:00:00 +0530 Mon, 05 Dec 2016 10:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335542 The Court approved and sanctioned the Scheme of Arrangement between two companies, finding it genuine and in the interest of shareholders and creditors. Meetings for various stakeholders were dispensed with based on consent affidavits. Compliance concerns raised by the Regional Director regarding RBI guidelines, assets and liabilities details, and the Income Tax Act were addressed satisfactorily. The Resulting Company demonstrated compliance, and the Scheme was confirmed to be in line with the Income Tax Act. The Court quantified fees to be paid by the Resulting Company and directed relevant authorities to act on the order and authenticated Scheme. Case-Laws Companies Law Thu, 24 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335542