https://www.taxtmi.com/caselaws?id=194810 A scheme of amalgamation was sanctioned where shareholder approvals and statutory reports disclosed no legal impediment, and the transferor companies were to dissolve on effectiveness of the scheme. The transfer of licences and approvals was made subject to the applicable regulatory policy and necessary permissions, so the transferee company remained bound to obtain departmental approvals. Objections based on tax liabilities, tax benefits, and preference share treatment did not prevent sanction: liabilities and available tax credits could pass to the transferee company, while statutory tax and stamp duty obligations continued to operate according to law. en-us Tue, 01 Apr 2014 00:00:00 +0530 Thu, 28 Sep 2017 09:17:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194810 A scheme of amalgamation was sanctioned where shareholder approvals and statutory reports disclosed no legal impediment, and the transferor companies were to dissolve on effectiveness of the scheme. The transfer of licences and approvals was made subject to the applicable regulatory policy and necessary permissions, so the transferee company remained bound to obtain departmental approvals. Objections based on tax liabilities, tax benefits, and preference share treatment did not prevent sanction: liabilities and available tax credits could pass to the transferee company, while statutory tax and stamp duty obligations continued to operate according to law. Case-Laws Companies Law Tue, 01 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194810