https://www.taxtmi.com/caselaws?id=403435 A proposed scheme of merger by absorption under the Companies Act, 2013 was examined against the statutory conditions for sanction. The arrangement was supported by shareholder and creditor approvals, no objection was raised before the Tribunal, and the record indicated that the scheme was fair, reasonable, and not contrary to law or public policy. The petitioners also gave undertakings on payment of additional fees for enhanced authorised capital, compliance with FEMA and RBI requirements, and filing for registration as a Core Investment Company. Auditors' certificates supported the accounting treatment. The scheme was sanctioned, the transferor companies stood dissolved without winding up, and transfer of assets, liabilities, proceedings, employees, and related filings was directed subject to compliance with the stated requirements. en-us Mon, 18 Jan 2021 00:00:00 +0530 Fri, 29 Jan 2021 13:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403435 A proposed scheme of merger by absorption under the Companies Act, 2013 was examined against the statutory conditions for sanction. The arrangement was supported by shareholder and creditor approvals, no objection was raised before the Tribunal, and the record indicated that the scheme was fair, reasonable, and not contrary to law or public policy. The petitioners also gave undertakings on payment of additional fees for enhanced authorised capital, compliance with FEMA and RBI requirements, and filing for registration as a Core Investment Company. Auditors' certificates supported the accounting treatment. The scheme was sanctioned, the transferor companies stood dissolved without winding up, and transfer of assets, liabilities, proceedings, employees, and related filings was directed subject to compliance with the stated requirements. Case-Laws Companies Law Mon, 18 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403435