https://www.taxtmi.com/caselaws?id=434689 In an approved amalgamation scheme, inclusion of disputed property in the asset schedule must be accompanied by full disclosure of pending title litigation. Where the applicant omits material facts about civil proceedings affecting title and possession, the disclosure obligation under section 230(2) is engaged, and corrective directions to amend the schedule are within the tribunal's limited scheme jurisdiction. A consequential notice on penalty may also be issued on that basis. The challenge to the directions was rejected, and the relief sought by the appellant failed. en-us Tue, 28 Feb 2023 00:00:00 +0530 Thu, 02 Mar 2023 08:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434689 In an approved amalgamation scheme, inclusion of disputed property in the asset schedule must be accompanied by full disclosure of pending title litigation. Where the applicant omits material facts about civil proceedings affecting title and possession, the disclosure obligation under section 230(2) is engaged, and corrective directions to amend the schedule are within the tribunal's limited scheme jurisdiction. A consequential notice on penalty may also be issued on that basis. The challenge to the directions was rejected, and the relief sought by the appellant failed. Case-Laws Companies Law Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434689