https://www.taxtmi.com/caselaws?id=279336 Two public limited companies filed petitions for sanction of a demerger and transfer scheme under Sections 391 and 394 of the Companies Act, 1956. The proposed arrangement involved transferring the manufacturing division of one company to another, aiming to achieve synergic advantages. Despite objections raised by the Central Government regarding company names, objects clause changes, and pending prosecution, the court found these concerns misconceived. Relying on previous judgments, the court granted the prayers in the petitions, emphasizing the scheme's benefits for the companies, members, and creditors. The petitions were disposed of accordingly, with directions for necessary filings and continuation of legal proceedings. en-us Thu, 28 Aug 2003 00:00:00 +0530 Wed, 13 Mar 2019 16:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279336 Two public limited companies filed petitions for sanction of a demerger and transfer scheme under Sections 391 and 394 of the Companies Act, 1956. The proposed arrangement involved transferring the manufacturing division of one company to another, aiming to achieve synergic advantages. Despite objections raised by the Central Government regarding company names, objects clause changes, and pending prosecution, the court found these concerns misconceived. Relying on previous judgments, the court granted the prayers in the petitions, emphasizing the scheme's benefits for the companies, members, and creditors. The petitions were disposed of accordingly, with directions for necessary filings and continuation of legal proceedings. Case-Laws Indian Laws Thu, 28 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279336