https://www.taxtmi.com/caselaws?id=306580 The court sanctioned the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, 1956, involving three companies. The consolidation aimed to streamline the organization structure and achieve commercial synergies, reducing operational and administrative costs for the benefit of the Transferee Company, a Non-Banking Financial Company. Shareholders and creditors' meetings were dispensed with due to written consents. The court, after considering various aspects including compliance with regulatory rules, accounting treatment, and tax compliance, approved the scheme as beneficial to shareholders, creditors, and the public. Costs were quantified and directions were given for further administrative steps. en-us Fri, 05 Aug 2016 00:00:00 +0530 Thu, 09 Feb 2023 21:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306580 The court sanctioned the Scheme of Amalgamation under sections 391 to 394 of the Companies Act, 1956, involving three companies. The consolidation aimed to streamline the organization structure and achieve commercial synergies, reducing operational and administrative costs for the benefit of the Transferee Company, a Non-Banking Financial Company. Shareholders and creditors' meetings were dispensed with due to written consents. The court, after considering various aspects including compliance with regulatory rules, accounting treatment, and tax compliance, approved the scheme as beneficial to shareholders, creditors, and the public. Costs were quantified and directions were given for further administrative steps. Case-Laws Companies Law Fri, 05 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306580