https://www.taxtmi.com/caselaws?id=459252 The HC sanctioned the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, allowing the merger of Passive Infrastructure Assets from the transferor to the transferee company. The court dismissed objections from the Regional Director and the Income Tax Department, emphasizing compliance with statutory requirements. No shares or consideration were exchanged, and the order did not exempt the parties from stamp duty obligations. The Scheme aimed to enhance operational efficiency and financial flexibility, effective from the appointed date. The petition was approved, subject to legal compliance, facilitating asset consolidation within the group. en-us Tue, 29 Mar 2011 00:00:00 +0530 Fri, 06 Dec 2024 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459252 The HC sanctioned the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, allowing the merger of Passive Infrastructure Assets from the transferor to the transferee company. The court dismissed objections from the Regional Director and the Income Tax Department, emphasizing compliance with statutory requirements. No shares or consideration were exchanged, and the order did not exempt the parties from stamp duty obligations. The Scheme aimed to enhance operational efficiency and financial flexibility, effective from the appointed date. The petition was approved, subject to legal compliance, facilitating asset consolidation within the group. Case-Laws Companies Law Tue, 29 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459252