https://www.taxtmi.com/caselaws?id=190245 The Court sanctioned the Scheme of Amalgamation involving several companies, transferring assets and liabilities to the transferee company. The transferor companies would be dissolved without winding up. Despite objections raised by the Official Liquidator regarding statutory dues, property valuation, and purchase consideration, the Court found procedural compliance and majority approval sufficient to approve the Scheme. The Court emphasized its role in ensuring procedural adherence rather than substituting commercial judgment. The Scheme was deemed binding on all participants, shareholders, creditors, and parties involved, with directions for publication and further applications if necessary. en-us Tue, 30 Sep 2014 00:00:00 +0530 Wed, 08 Mar 2017 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190245 The Court sanctioned the Scheme of Amalgamation involving several companies, transferring assets and liabilities to the transferee company. The transferor companies would be dissolved without winding up. Despite objections raised by the Official Liquidator regarding statutory dues, property valuation, and purchase consideration, the Court found procedural compliance and majority approval sufficient to approve the Scheme. The Court emphasized its role in ensuring procedural adherence rather than substituting commercial judgment. The Scheme was deemed binding on all participants, shareholders, creditors, and parties involved, with directions for publication and further applications if necessary. Case-Laws Companies Law Tue, 30 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190245