https://www.taxtmi.com/caselaws?id=194314 The court approved the scheme of amalgamation between a transferor company and a transferee company under sections 391 to 394 of the Companies Act, 1956. All shareholders and unsecured creditors consented to the scheme, allowing dispensation of meetings. The court also exempted the transferee company from seeking separate approval, as it was a wholly owned subsidiary. Shares in the transferee company would not be allotted in exchange for transferor company shares, which would be canceled. The application was granted in favor of the transferor company, with directions to eliminate certain requirements. en-us Mon, 22 Feb 2016 00:00:00 +0530 Mon, 04 Sep 2017 22:07:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194314 The court approved the scheme of amalgamation between a transferor company and a transferee company under sections 391 to 394 of the Companies Act, 1956. All shareholders and unsecured creditors consented to the scheme, allowing dispensation of meetings. The court also exempted the transferee company from seeking separate approval, as it was a wholly owned subsidiary. Shares in the transferee company would not be allotted in exchange for transferor company shares, which would be canceled. The application was granted in favor of the transferor company, with directions to eliminate certain requirements. Case-Laws Companies Law Mon, 22 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194314