https://www.taxtmi.com/caselaws?id=296105 The Tribunal approved the Scheme of Amalgamation between Aditya Marketing & Manufacturing Private Limited and Umang Commercial Company Private Limited under Sections 230(1) and 232(1) of the Companies Act, 2013. The Scheme, aimed at transferring the Transferor Company's undertaking to the Transferee Company, was found to be fair and reasonable in terms of share exchange ratio. Both companies' boards unanimously approved the Scheme, which involved only unsecured creditors. The judgment outlined the procedural requirements for shareholder and creditor meetings, directing compliance with Companies Act, 2013 rules. The Applicants were instructed to submit an affidavit of notice service, with the Chairperson to report meeting outcomes to the Tribunal within four weeks. en-us Fri, 07 Feb 2020 00:00:00 +0530 Mon, 05 Jul 2021 08:24:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296105 The Tribunal approved the Scheme of Amalgamation between Aditya Marketing & Manufacturing Private Limited and Umang Commercial Company Private Limited under Sections 230(1) and 232(1) of the Companies Act, 2013. The Scheme, aimed at transferring the Transferor Company's undertaking to the Transferee Company, was found to be fair and reasonable in terms of share exchange ratio. Both companies' boards unanimously approved the Scheme, which involved only unsecured creditors. The judgment outlined the procedural requirements for shareholder and creditor meetings, directing compliance with Companies Act, 2013 rules. The Applicants were instructed to submit an affidavit of notice service, with the Chairperson to report meeting outcomes to the Tribunal within four weeks. Case-Laws Companies Law Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296105