https://www.taxtmi.com/caselaws?id=336917 A scheme of amalgamation under Sections 391 to 394 of the Companies Act, 1956 was sanctioned after the statutory procedure was found to be complied with and the objections raised by the Regional Director were satisfactorily answered by affidavit evidence. The Official Liquidator reported no prejudice to members or public interest, and the Court noted that no proceedings under Sections 235 to 251 were pending against the companies. As a result, the transferor company's assets and liabilities vested in the transferee company, the transferor company stood dissolved without winding up, and the scheme became binding on the companies, shareholders, creditors, and all concerned. en-us Tue, 06 Dec 2016 00:00:00 +0530 Sat, 31 Dec 2016 13:48:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336917 A scheme of amalgamation under Sections 391 to 394 of the Companies Act, 1956 was sanctioned after the statutory procedure was found to be complied with and the objections raised by the Regional Director were satisfactorily answered by affidavit evidence. The Official Liquidator reported no prejudice to members or public interest, and the Court noted that no proceedings under Sections 235 to 251 were pending against the companies. As a result, the transferor company's assets and liabilities vested in the transferee company, the transferor company stood dissolved without winding up, and the scheme became binding on the companies, shareholders, creditors, and all concerned. Case-Laws Companies Law Tue, 06 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336917