https://www.taxtmi.com/caselaws?id=290495 The court approved the Composite Scheme of Merger by Absorption involving multiple companies under the Companies Act, 2013. The merger aimed to consolidate wholly owned subsidiaries into the holding company to achieve strategic benefits and operational efficiencies. Shareholders' consent was obtained, dispensing with the need for equity shareholders' meetings. Since there were no Secured Creditors, convening their meetings was unnecessary. The judgment emphasized the importance of notifying authorities and the Official Liquidator, directing the Applicant Companies to serve notices to various entities to ensure compliance with legal procedures and regulatory requirements. en-us Fri, 10 May 2019 00:00:00 +0530 Thu, 01 Oct 2020 11:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290495 The court approved the Composite Scheme of Merger by Absorption involving multiple companies under the Companies Act, 2013. The merger aimed to consolidate wholly owned subsidiaries into the holding company to achieve strategic benefits and operational efficiencies. Shareholders' consent was obtained, dispensing with the need for equity shareholders' meetings. Since there were no Secured Creditors, convening their meetings was unnecessary. The judgment emphasized the importance of notifying authorities and the Official Liquidator, directing the Applicant Companies to serve notices to various entities to ensure compliance with legal procedures and regulatory requirements. Case-Laws Companies Law Fri, 10 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290495