https://www.taxtmi.com/caselaws?id=411103 A scheme of amalgamation may be sanctioned where the statutory procedure is duly completed, notices are served, meetings are dispensed with or convened as required, and the requisite majorities of shareholders and creditors approve it. The arrangement will be approved when the tribunal is satisfied, on the record and the reports of the regulatory and liquidation authorities, that the scheme is genuine, lawful, and in the interests of shareholders and creditors. The scheme may also include effective provisions for transfer and vesting, accounting treatment, cancellation of cross-holdings, compliance filings, and preservation of statutory liabilities, after which it becomes binding on the companies, their members, and concerned persons. en-us Tue, 22 Jun 2021 00:00:00 +0530 Wed, 18 Aug 2021 09:26:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411103 A scheme of amalgamation may be sanctioned where the statutory procedure is duly completed, notices are served, meetings are dispensed with or convened as required, and the requisite majorities of shareholders and creditors approve it. The arrangement will be approved when the tribunal is satisfied, on the record and the reports of the regulatory and liquidation authorities, that the scheme is genuine, lawful, and in the interests of shareholders and creditors. The scheme may also include effective provisions for transfer and vesting, accounting treatment, cancellation of cross-holdings, compliance filings, and preservation of statutory liabilities, after which it becomes binding on the companies, their members, and concerned persons. Case-Laws Companies Law Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411103