https://www.taxtmi.com/caselaws?id=395034 A scheme of amalgamation under sections 230 to 232 of the Companies Act, 2013 was sanctioned after shareholder and creditor approvals were obtained and the statutory objections were cured. The Tribunal noted that the Official Liquidator found no prejudice to members or public interest, and the petitioners addressed concerns on fractional shares, accounting treatment, authorised capital fee, the transferor companies' status, revised financial statements, and the income-tax demand on the transferee company. With no surviving impediment, the scheme became binding, the transferor companies' properties, liabilities and pending proceedings stood vested in the transferee company, and the transferor companies were dissolved without winding up. en-us Tue, 29 Oct 2019 00:00:00 +0530 Mon, 04 May 2020 12:42:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395034 A scheme of amalgamation under sections 230 to 232 of the Companies Act, 2013 was sanctioned after shareholder and creditor approvals were obtained and the statutory objections were cured. The Tribunal noted that the Official Liquidator found no prejudice to members or public interest, and the petitioners addressed concerns on fractional shares, accounting treatment, authorised capital fee, the transferor companies' status, revised financial statements, and the income-tax demand on the transferee company. With no surviving impediment, the scheme became binding, the transferor companies' properties, liabilities and pending proceedings stood vested in the transferee company, and the transferor companies were dissolved without winding up. Case-Laws Companies Law Tue, 29 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395034