https://www.taxtmi.com/caselaws?id=401048 The Tribunal approved the composite scheme of arrangement and amalgamation involving several companies, including the cancellation and reduction of equity shares. Meetings of shareholders and creditors were convened as directed, and compliance with statutory and regulatory requirements was confirmed. Statutory authorities provided observations and objections, with necessary undertakings made by the petitioner-companies. The valuation report recommended issuing preference shares, and the accounting treatment complied with standards. The scheme was sanctioned with specified conditions, including capital reduction, transfer of assets and liabilities, and employee transfer. The order emphasized the need for payment of duties and taxes, allowing interested parties to seek further directions. en-us Thu, 09 Jul 2020 00:00:00 +0530 Mon, 04 Jan 2021 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401048 The Tribunal approved the composite scheme of arrangement and amalgamation involving several companies, including the cancellation and reduction of equity shares. Meetings of shareholders and creditors were convened as directed, and compliance with statutory and regulatory requirements was confirmed. Statutory authorities provided observations and objections, with necessary undertakings made by the petitioner-companies. The valuation report recommended issuing preference shares, and the accounting treatment complied with standards. The scheme was sanctioned with specified conditions, including capital reduction, transfer of assets and liabilities, and employee transfer. The order emphasized the need for payment of duties and taxes, allowing interested parties to seek further directions. Case-Laws Companies Law Thu, 09 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401048