https://www.taxtmi.com/caselaws?id=459977 Section 391 of the Companies Act, 1956 was treated as the complete code for sanctioning an amalgamation scheme, and the Court noted that the proposal had been unanimously approved by the shareholders of both transferor and transferee companies. The scheme concerned companies in the same plantation business and was presented as a consolidation measure to reduce overheads, improve financial leverage, and create business synergy. The Court also considered the earlier sanction granted by the Madras High Court and found the arrangement to be in the interests of members and creditors. Sanction to the scheme of amalgamation was granted. en-us Wed, 04 Sep 2013 00:00:00 +0530 Tue, 07 Jan 2025 15:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459977 Section 391 of the Companies Act, 1956 was treated as the complete code for sanctioning an amalgamation scheme, and the Court noted that the proposal had been unanimously approved by the shareholders of both transferor and transferee companies. The scheme concerned companies in the same plantation business and was presented as a consolidation measure to reduce overheads, improve financial leverage, and create business synergy. The Court also considered the earlier sanction granted by the Madras High Court and found the arrangement to be in the interests of members and creditors. Sanction to the scheme of amalgamation was granted. Case-Laws Companies Law Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459977