https://www.taxtmi.com/caselaws?id=402521 The Tribunal sanctioned the Scheme of Arrangement between the Transferor and Transferee Companies, approving the reduction of equity share capital, amalgamation, and change of name of the Transferee Company. The Scheme ensures compliance with statutory requirements and protection of employees' interests. Despite objections from the Income Tax Department, the Tribunal ruled in favor of the Scheme, emphasizing that tax liabilities must be met. The companies are directed to pay statutory dues and charges, with the Transferor Company ordered to cover the auditor's fees. The Company Petition is allowed under specified conditions. en-us Tue, 05 May 2020 00:00:00 +0530 Tue, 05 Jan 2021 10:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402521 The Tribunal sanctioned the Scheme of Arrangement between the Transferor and Transferee Companies, approving the reduction of equity share capital, amalgamation, and change of name of the Transferee Company. The Scheme ensures compliance with statutory requirements and protection of employees' interests. Despite objections from the Income Tax Department, the Tribunal ruled in favor of the Scheme, emphasizing that tax liabilities must be met. The companies are directed to pay statutory dues and charges, with the Transferor Company ordered to cover the auditor's fees. The Company Petition is allowed under specified conditions. Case-Laws Companies Law Tue, 05 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402521