https://www.taxtmi.com/caselaws?id=418426 The scheme of amalgamation was sanctioned after the Tribunal found that the requirements of Sections 230 to 232 of the Companies Act, 2013 were satisfied, the arrangement was bona fide, fair, and supported by the requisite shareholder and creditor approvals, and the transfer of the undertaking as a going concern was . The Tribunal, however, accepted objections relating to accounting deficiencies in the transferor company's financial statements and directed corrective steps, including recognition of lease rental income, provision for depreciation, payment of due building taxes, preparation of cash flow statements, revision of the balance sheet, and corresponding consolidation by the transferee company. These directions did not sanction of the scheme, which was approved subject to compliance with statutory and accounting obligations. en-us Fri, 28 Jan 2022 00:00:00 +0530 Thu, 17 Feb 2022 07:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418426 The scheme of amalgamation was sanctioned after the Tribunal found that the requirements of Sections 230 to 232 of the Companies Act, 2013 were satisfied, the arrangement was bona fide, fair, and supported by the requisite shareholder and creditor approvals, and the transfer of the undertaking as a going concern was . The Tribunal, however, accepted objections relating to accounting deficiencies in the transferor company's financial statements and directed corrective steps, including recognition of lease rental income, provision for depreciation, payment of due building taxes, preparation of cash flow statements, revision of the balance sheet, and corresponding consolidation by the transferee company. These directions did not sanction of the scheme, which was approved subject to compliance with statutory and accounting obligations. Case-Laws Companies Law Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418426