https://www.taxtmi.com/caselaws?id=336918 The Court sanctioned the Composite Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956, involving the merger and demerger of companies. The Scheme detailed the transfer of assets and liabilities, ensuring compliance with Accounting Standard-14. The Amalgamating Companies were to be dissolved without winding up, with their interests vested in the relevant companies. The Scheme was declared binding on the companies, shareholders, and creditors, with directions for formal order sanctioning and publication. The Petitioner-Companies agreed to deposit funds in the Common Pool Fund Account, leading to the matter's disposal with instructions for filing the formal order. en-us Tue, 13 Dec 2016 00:00:00 +0530 Sat, 31 Dec 2016 13:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336918 The Court sanctioned the Composite Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956, involving the merger and demerger of companies. The Scheme detailed the transfer of assets and liabilities, ensuring compliance with Accounting Standard-14. The Amalgamating Companies were to be dissolved without winding up, with their interests vested in the relevant companies. The Scheme was declared binding on the companies, shareholders, and creditors, with directions for formal order sanctioning and publication. The Petitioner-Companies agreed to deposit funds in the Common Pool Fund Account, leading to the matter's disposal with instructions for filing the formal order. Case-Laws Companies Law Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336918