https://www.taxtmi.com/caselaws?id=289211 An entity falls within the MRTP Act's definition of "undertaking" only if it is actually engaged at the material time in producing goods or providing services; mere legal capacity, past status, or preparatory acts are insufficient. Applying that test, the old Central Bank was found not to be carrying on banking or any other service activity after nationalisation, as the relied-on steps were only incidental to the proposed amalgamation. The phrase "any other undertaking" in section 23(1) was held to take its meaning from the statutory definition in section 2(v), so no departure was justified and prior Central Government approval was not required for the amalgamation scheme. en-us Mon, 22 Mar 1971 00:00:00 +0530 Mon, 20 Jul 2020 18:40:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289211 An entity falls within the MRTP Act's definition of "undertaking" only if it is actually engaged at the material time in producing goods or providing services; mere legal capacity, past status, or preparatory acts are insufficient. Applying that test, the old Central Bank was found not to be carrying on banking or any other service activity after nationalisation, as the relied-on steps were only incidental to the proposed amalgamation. The phrase "any other undertaking" in section 23(1) was held to take its meaning from the statutory definition in section 2(v), so no departure was justified and prior Central Government approval was not required for the amalgamation scheme. Case-Laws Companies Law Mon, 22 Mar 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289211