https://www.taxtmi.com/caselaws?id=295377 The court granted sanction to the scheme of amalgamation under Sections 391 and 394 of the Companies Act, 1956. The approval was based on unanimous consent from the Board of Directors, compliance with procedural formalities, lack of objections from regulatory authorities, and provisions for employee transition and liabilities transfer. The court emphasized the need for statutory compliance, directed the transferee company to assume liabilities, and clarified that the sanction did not exempt from legal obligations. The petition was allowed and disposed of, highlighting the significance of legal adherence in the amalgamation process. en-us Wed, 06 Apr 2016 00:00:00 +0530 Tue, 01 Jun 2021 12:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295377 The court granted sanction to the scheme of amalgamation under Sections 391 and 394 of the Companies Act, 1956. The approval was based on unanimous consent from the Board of Directors, compliance with procedural formalities, lack of objections from regulatory authorities, and provisions for employee transition and liabilities transfer. The court emphasized the need for statutory compliance, directed the transferee company to assume liabilities, and clarified that the sanction did not exempt from legal obligations. The petition was allowed and disposed of, highlighting the significance of legal adherence in the amalgamation process. Case-Laws Companies Law Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295377