https://www.taxtmi.com/caselaws?id=199762 A scheme of amalgamation may be sanctioned where statutory meetings are properly convened, the explanatory statement is disclosed with notice, and the required classes approve the proposal overwhelmingly. Allegations of non-disclosure, proxy irregularity or fraud must be supported by the record; absent such proof, they do not defeat the scheme. Share valuation may be upheld if it is reasonable in light of market quotation, asset-liability position and revival prospects. A revival-oriented amalgamation is not objectionable merely because it assists a loss-making unit, provided the scheme is not unfair, fraudulent or oppressive. Dividend and employee-related objections were also treated as unfounded. en-us Fri, 12 Sep 1986 00:00:00 +0530 Mon, 12 Mar 2018 12:49:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199762 A scheme of amalgamation may be sanctioned where statutory meetings are properly convened, the explanatory statement is disclosed with notice, and the required classes approve the proposal overwhelmingly. Allegations of non-disclosure, proxy irregularity or fraud must be supported by the record; absent such proof, they do not defeat the scheme. Share valuation may be upheld if it is reasonable in light of market quotation, asset-liability position and revival prospects. A revival-oriented amalgamation is not objectionable merely because it assists a loss-making unit, provided the scheme is not unfair, fraudulent or oppressive. Dividend and employee-related objections were also treated as unfounded. Case-Laws Companies Law Fri, 12 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199762