https://www.taxtmi.com/caselaws?id=421447 A scheme of amalgamation under the Companies Act, 2013 is sanctioned where the statutory procedure is complied with, shareholders and creditors approve or meetings are validly dispensed with, notice and advertisement requirements are met, and accounting and valuation support the exchange ratio. Regulatory objections on compliance, appointed date, stamp duty, accounting treatment, and continuing liability can be addressed through undertakings, while statutory authorities retain the right to pursue pre-existing or continuing breaches against the transferee company and responsible directors. On sanction, the scheme provides for vesting of assets and liabilities, issue of shares, continuation of proceedings, and dissolution of the transferor companies without winding up. en-us Wed, 30 Mar 2022 00:00:00 +0530 Fri, 22 Apr 2022 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421447 A scheme of amalgamation under the Companies Act, 2013 is sanctioned where the statutory procedure is complied with, shareholders and creditors approve or meetings are validly dispensed with, notice and advertisement requirements are met, and accounting and valuation support the exchange ratio. Regulatory objections on compliance, appointed date, stamp duty, accounting treatment, and continuing liability can be addressed through undertakings, while statutory authorities retain the right to pursue pre-existing or continuing breaches against the transferee company and responsible directors. On sanction, the scheme provides for vesting of assets and liabilities, issue of shares, continuation of proceedings, and dissolution of the transferor companies without winding up. Case-Laws Companies Law Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421447