https://www.taxtmi.com/caselaws?id=420592 A scheme of amalgamation may be sanctioned where shareholders, debenture holders and other stakeholders have unanimously approved it, statutory notice and disclosure requirements under the Companies Act, 2013 have been complied with, the accounting treatment conforms to prescribed standards, and no objection is raised by the Official Liquidator. In such proceedings, the tribunal examines whether the scheme is just, fair, reasonable, lawful and consistent with public policy, but does not reassess the commercial wisdom of the stakeholders once those conditions are met. A challenge based on alleged non-hearing and the claim that the merger was sequential or hypothetical failed where counsel was present, consent had been given to related schemes, and no prejudice, public interest harm or exchequer loss was shown. en-us Mon, 04 Apr 2022 00:00:00 +0530 Tue, 05 Apr 2022 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420592 A scheme of amalgamation may be sanctioned where shareholders, debenture holders and other stakeholders have unanimously approved it, statutory notice and disclosure requirements under the Companies Act, 2013 have been complied with, the accounting treatment conforms to prescribed standards, and no objection is raised by the Official Liquidator. In such proceedings, the tribunal examines whether the scheme is just, fair, reasonable, lawful and consistent with public policy, but does not reassess the commercial wisdom of the stakeholders once those conditions are met. A challenge based on alleged non-hearing and the claim that the merger was sequential or hypothetical failed where counsel was present, consent had been given to related schemes, and no prejudice, public interest harm or exchequer loss was shown. Case-Laws Insolvency and Bankruptcy Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420592