https://www.taxtmi.com/caselaws?id=198237 The Court held that separate proceedings under Section 391(2) of the Companies Act, 1956 were not necessary for the parent Holding Company in the proposed amalgamation of its wholly owned subsidiary. The Court accepted the argument that since the Holding Company held all shares of the subsidiary and no new shares would be issued, the rights of existing shareholders would not be affected. Relying on past court orders and decisions, the Court allowed the application by Nirma Limited without imposing any costs. en-us Thu, 13 May 2010 00:00:00 +0530 Thu, 25 Jan 2018 18:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198237 The Court held that separate proceedings under Section 391(2) of the Companies Act, 1956 were not necessary for the parent Holding Company in the proposed amalgamation of its wholly owned subsidiary. The Court accepted the argument that since the Holding Company held all shares of the subsidiary and no new shares would be issued, the rights of existing shareholders would not be affected. Relying on past court orders and decisions, the Court allowed the application by Nirma Limited without imposing any costs. Case-Laws Companies Law Thu, 13 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198237