https://www.taxtmi.com/caselaws?id=296495 A scheme of arrangement may be sanctioned where the petitioner companies have obtained the required corporate approvals, complied with procedural directions, and shown that the proposal serves a legitimate business purpose and is consistent with the statutory framework. The Tribunal accepted the absence of opposition and held the scheme fair, reasonable, and not opposed to law or public policy. Regulatory objections on accounting treatment, tax compliance, and increase of authorised share capital did not defeat sanction because the companies gave express undertakings to make the necessary accounting entries, comply with income tax law, and increase capital as required under the Companies Act, 2013. The arrangement was approved subject to those undertakings. en-us Wed, 22 Mar 2017 00:00:00 +0530 Fri, 20 Feb 2026 17:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296495 A scheme of arrangement may be sanctioned where the petitioner companies have obtained the required corporate approvals, complied with procedural directions, and shown that the proposal serves a legitimate business purpose and is consistent with the statutory framework. The Tribunal accepted the absence of opposition and held the scheme fair, reasonable, and not opposed to law or public policy. Regulatory objections on accounting treatment, tax compliance, and increase of authorised share capital did not defeat sanction because the companies gave express undertakings to make the necessary accounting entries, comply with income tax law, and increase capital as required under the Companies Act, 2013. The arrangement was approved subject to those undertakings. Case-Laws Companies Law Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296495