https://www.taxtmi.com/caselaws?id=299513 Amalgamation permits the authorised share capital of transferor companies to be added to that of the transferee company in a complete merger without separate stamp duty or fee for such clubbing. Writing off debit balances and losses against the security premium account may be sanctioned as a share-capital reorganisation where unanimous approval and substantial compliance exist. Repayment to preference shareholders from that account constitutes capital reduction, attracting Rule 85 and the statutory capital-reduction procedure. Meetings may nevertheless be dispensed with where all affected shareholders and relevant creditors provide written consent, rendering further meeting compliance unnecessary. en-us Mon, 09 Oct 2006 00:00:00 +0530 Fri, 17 Dec 2021 15:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299513 Amalgamation permits the authorised share capital of transferor companies to be added to that of the transferee company in a complete merger without separate stamp duty or fee for such clubbing. Writing off debit balances and losses against the security premium account may be sanctioned as a share-capital reorganisation where unanimous approval and substantial compliance exist. Repayment to preference shareholders from that account constitutes capital reduction, attracting Rule 85 and the statutory capital-reduction procedure. Meetings may nevertheless be dispensed with where all affected shareholders and relevant creditors provide written consent, rendering further meeting compliance unnecessary. Case-Laws Companies Law Mon, 09 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299513