https://www.taxtmi.com/caselaws?id=415130 The Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013, involving multiple Transferor Companies and a single Transferee Company, was sanctioned by the Court. Despite objections raised by the Income Tax Department and the Regional Director, the Court found the Scheme fair, reasonable, and compliant with statutory requirements and accounting standards. The Court ordered the dissolution of the Transferor Companies without winding up, with the Transferee Company assuming their rights and liabilities. The Scheme's approval ensured continuity of operations and employment, with provisions for further directions post-sanctioning. en-us Thu, 18 Nov 2021 00:00:00 +0530 Sat, 27 Nov 2021 08:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415130 The Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013, involving multiple Transferor Companies and a single Transferee Company, was sanctioned by the Court. Despite objections raised by the Income Tax Department and the Regional Director, the Court found the Scheme fair, reasonable, and compliant with statutory requirements and accounting standards. The Court ordered the dissolution of the Transferor Companies without winding up, with the Transferee Company assuming their rights and liabilities. The Scheme's approval ensured continuity of operations and employment, with provisions for further directions post-sanctioning. Case-Laws Companies Law Thu, 18 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415130