https://www.taxtmi.com/caselaws?id=198284 The High Court ruled that separate proceedings under section 391(2) of the Companies Act, 1956, were not necessary for the applicant company seeking to amalgamate with its wholly owned subsidiary. The court considered relevant decisions and the Scheme of Amalgamation, determining that as the Transferee Company held the Transferor Company's entire share capital, no change in the capital structure would occur, and existing shareholders' rights would remain unaffected. As a result, the application by Shilchar Electronics Ltd. for the proposed amalgamation with Shilchar Payton Technologies Ltd. was granted without costs. en-us Mon, 04 Dec 2006 00:00:00 +0530 Sat, 27 Jan 2018 13:05:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198284 The High Court ruled that separate proceedings under section 391(2) of the Companies Act, 1956, were not necessary for the applicant company seeking to amalgamate with its wholly owned subsidiary. The court considered relevant decisions and the Scheme of Amalgamation, determining that as the Transferee Company held the Transferor Company's entire share capital, no change in the capital structure would occur, and existing shareholders' rights would remain unaffected. As a result, the application by Shilchar Electronics Ltd. for the proposed amalgamation with Shilchar Payton Technologies Ltd. was granted without costs. Case-Laws Companies Law Mon, 04 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198284