https://www.taxtmi.com/caselaws?id=312714 A scheme of amalgamation under the Companies Act was sanctioned after the tribunal found that statutory requirements were met and that objections had been satisfactorily answered. Concerns over authorised share capital entries and alleged secured creditors were clarified through additional affidavits, and the charges reflected in the records were explained as bank guarantees giving rise only to contingent liability, with no invoked or outstanding secured debt. Compliance undertakings on record preservation, statutory filings, and related directions were accepted, and the scheme was found genuine, bona fide, and not prejudicial to shareholders, creditors, or the public interest. en-us Tue, 08 Aug 2017 00:00:00 +0530 Mon, 04 Mar 2024 09:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312714 A scheme of amalgamation under the Companies Act was sanctioned after the tribunal found that statutory requirements were met and that objections had been satisfactorily answered. Concerns over authorised share capital entries and alleged secured creditors were clarified through additional affidavits, and the charges reflected in the records were explained as bank guarantees giving rise only to contingent liability, with no invoked or outstanding secured debt. Compliance undertakings on record preservation, statutory filings, and related directions were accepted, and the scheme was found genuine, bona fide, and not prejudicial to shareholders, creditors, or the public interest. Case-Laws Companies Law Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312714