https://www.taxtmi.com/caselaws?id=402009 The court approved the Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, for the merger of multiple companies on a going concern basis. The Scheme, aimed at achieving synergies and operational efficiencies, was found to be in the interest of shareholders, creditors, lenders, and stakeholders without compromising their rights. Consent affidavits from Equity Shareholders were obtained, dispensing with the need for Equity Shareholders' meetings. Detailed notice requirements were outlined for various entities, and Chartered Accountants were appointed to assist the Official Liquidator in scrutinizing accounts. Compliance with directions was emphasized, ensuring transparency and adherence to legal procedures. en-us Fri, 04 Dec 2020 00:00:00 +0530 Tue, 22 Dec 2020 14:09:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402009 The court approved the Composite Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, for the merger of multiple companies on a going concern basis. The Scheme, aimed at achieving synergies and operational efficiencies, was found to be in the interest of shareholders, creditors, lenders, and stakeholders without compromising their rights. Consent affidavits from Equity Shareholders were obtained, dispensing with the need for Equity Shareholders' meetings. Detailed notice requirements were outlined for various entities, and Chartered Accountants were appointed to assist the Official Liquidator in scrutinizing accounts. Compliance with directions was emphasized, ensuring transparency and adherence to legal procedures. Case-Laws Companies Law Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402009