https://www.taxtmi.com/caselaws?id=291470 The Tribunal approved the scheme of arrangement for the amalgamation of Shree Krishna Finbiz Private Limited and Gupta Jewellers Private Limited under Sections 230 to 232 of the Companies Act, 2013. The scheme involved transferring assets, liabilities, and operations of the Transferor Company to the Transferee Company. The Tribunal dispensed with the requirement of shareholder and creditor meetings as consents were obtained. Despite objections from the Income Tax Department on share valuation, the Tribunal found the explanation satisfactory. Various authorities raised no major objections, and the Tribunal imposed specific conditions for the merger, including dissolution of the Transferor Company without winding up and transfer of assets to the Transferee Company. en-us Fri, 06 Sep 2019 00:00:00 +0530 Wed, 11 Nov 2020 19:45:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291470 The Tribunal approved the scheme of arrangement for the amalgamation of Shree Krishna Finbiz Private Limited and Gupta Jewellers Private Limited under Sections 230 to 232 of the Companies Act, 2013. The scheme involved transferring assets, liabilities, and operations of the Transferor Company to the Transferee Company. The Tribunal dispensed with the requirement of shareholder and creditor meetings as consents were obtained. Despite objections from the Income Tax Department on share valuation, the Tribunal found the explanation satisfactory. Various authorities raised no major objections, and the Tribunal imposed specific conditions for the merger, including dissolution of the Transferor Company without winding up and transfer of assets to the Transferee Company. Case-Laws Companies Law Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291470