https://www.taxtmi.com/caselaws?id=751155 A person can object to a scheme of amalgamation only if it satisfies the creditor or shareholder threshold under Section 230(4) of the Companies Act, 2013, assessed by reference to the latest audited financial statements. Here, the applicant's royalty claim was disputed and was not reflected as a crystallised debt in the respondents' audited creditor lists, so it did not establish creditor status. The earlier payment arrangement and copyright-related assertions were insufficient to confer locus, and the scheme's transfer-of-liabilities clause protected any future claim. The Tribunal therefore correctly refused disclosure of the scheme documents and rejected the objection for lack of locus. en-us Thu, 04 Apr 2024 00:00:00 +0530 Mon, 08 Apr 2024 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751155 A person can object to a scheme of amalgamation only if it satisfies the creditor or shareholder threshold under Section 230(4) of the Companies Act, 2013, assessed by reference to the latest audited financial statements. Here, the applicant's royalty claim was disputed and was not reflected as a crystallised debt in the respondents' audited creditor lists, so it did not establish creditor status. The earlier payment arrangement and copyright-related assertions were insufficient to confer locus, and the scheme's transfer-of-liabilities clause protected any future claim. The Tribunal therefore correctly refused disclosure of the scheme documents and rejected the objection for lack of locus. Case-Laws Insolvency and Bankruptcy Thu, 04 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751155