https://www.taxtmi.com/caselaws?id=297180 The court approved the Scheme of Merger by Absorption of a wholly owned subsidiary into the holding company under Sections 230 to 232 of the Companies Act, 2013. The merger was deemed beneficial for both companies, shareholders, creditors, employees, and stakeholders, aiming at enhancing shareholders' value through consolidation. Consent affidavits from equity shareholders were obtained, dispensing with the need for a shareholder meeting. Notices were required to be served to creditors, regulatory authorities, and the Official Liquidator for scrutiny of accounts. The Applicant Companies were directed to file proof of notice dispatch and publication. en-us Thu, 11 Apr 2019 00:00:00 +0530 Wed, 22 Sep 2021 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297180 The court approved the Scheme of Merger by Absorption of a wholly owned subsidiary into the holding company under Sections 230 to 232 of the Companies Act, 2013. The merger was deemed beneficial for both companies, shareholders, creditors, employees, and stakeholders, aiming at enhancing shareholders' value through consolidation. Consent affidavits from equity shareholders were obtained, dispensing with the need for a shareholder meeting. Notices were required to be served to creditors, regulatory authorities, and the Official Liquidator for scrutiny of accounts. The Applicant Companies were directed to file proof of notice dispatch and publication. Case-Laws Insolvency and Bankruptcy Thu, 11 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297180