https://www.taxtmi.com/caselaws?id=459194 NCLT Chandigarh sanctioned a scheme of amalgamation under sections 230-232 of Companies Act, 2013. The tribunal found that amalgamation of the subsidiary with its holding company involved no share capital reorganization and would not harm members, creditors, or public interest. The Regional Director raised no objections. Given the subsidiary's positive net worth and excess assets over liabilities, separate proceedings by the transferee company were deemed unnecessary. The amalgamation application was allowed. en-us Thu, 10 Aug 2017 00:00:00 +0530 Wed, 04 Dec 2024 21:50:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459194 NCLT Chandigarh sanctioned a scheme of amalgamation under sections 230-232 of Companies Act, 2013. The tribunal found that amalgamation of the subsidiary with its holding company involved no share capital reorganization and would not harm members, creditors, or public interest. The Regional Director raised no objections. Given the subsidiary's positive net worth and excess assets over liabilities, separate proceedings by the transferee company were deemed unnecessary. The amalgamation application was allowed. Case-Laws Companies Law Thu, 10 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459194