https://www.taxtmi.com/caselaws?id=194737 The application under Sections 391 and 394 of the Companies Act, 1956 for the Scheme of Amalgamation of two companies was allowed. The Scheme involved the amalgamation of a subsidiary with its holding company, without issuance of new shares, maintaining the capital structure. With positive net worth of both companies ensuring no adverse impact on creditors post-merger, meetings of shareholders and creditors of the Transferor company were dispensed with. Precedents were cited supporting the dispensation, and the court granted the application as presented, issuing orders for further action. en-us Mon, 04 Feb 2013 00:00:00 +0530 Thu, 21 Sep 2017 17:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194737 The application under Sections 391 and 394 of the Companies Act, 1956 for the Scheme of Amalgamation of two companies was allowed. The Scheme involved the amalgamation of a subsidiary with its holding company, without issuance of new shares, maintaining the capital structure. With positive net worth of both companies ensuring no adverse impact on creditors post-merger, meetings of shareholders and creditors of the Transferor company were dispensed with. Precedents were cited supporting the dispensation, and the court granted the application as presented, issuing orders for further action. Case-Laws Companies Law Mon, 04 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194737