https://www.taxtmi.com/caselaws?id=290224 The Court granted sanction to the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, 1956, involving multiple Transferor Companies merging with a Transferee Company. The Court considered reports from the Official Liquidator and Regional Director, absence of objections, and directed compliance with statutory requirements within 30 days. The Transferor Companies would dissolve without winding up, with all property, rights, and liabilities transferred to the Transferee Company. No RBI approval was required for the amalgamation, and Directors would be liable for any RBI violations. Shareholders and Creditors approved the scheme, with the Petitioner Companies agreeing to deposit funds voluntarily. en-us Mon, 26 May 2014 00:00:00 +0530 Tue, 15 Sep 2020 10:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290224 The Court granted sanction to the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, 1956, involving multiple Transferor Companies merging with a Transferee Company. The Court considered reports from the Official Liquidator and Regional Director, absence of objections, and directed compliance with statutory requirements within 30 days. The Transferor Companies would dissolve without winding up, with all property, rights, and liabilities transferred to the Transferee Company. No RBI approval was required for the amalgamation, and Directors would be liable for any RBI violations. Shareholders and Creditors approved the scheme, with the Petitioner Companies agreeing to deposit funds voluntarily. Case-Laws Companies Law Mon, 26 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290224