https://www.taxtmi.com/caselaws?id=40186 A trade rival that had abandoned its own revival proposal, failed to pursue a stand-alone scheme, and acquiesced in the proceedings was not entitled to notice or hearing as an interested person, so the merger scheme was not invalid on that ground. Absence of notice to the Central Government and the CBDT did not vitiate approval of the scheme where the company had given up the principal tax benefit under section 72A and the revenue impact was materially reduced. A shareholder's challenge to the rehabilitation order was found not bona fide because it did not dispute the earlier sickness declaration and appeared aimed at obstructing revival. The merger-based revival scheme was upheld and the objections were rejected. en-us Tue, 07 Mar 1995 00:00:00 +0530 Fri, 11 Jul 2014 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40186 A trade rival that had abandoned its own revival proposal, failed to pursue a stand-alone scheme, and acquiesced in the proceedings was not entitled to notice or hearing as an interested person, so the merger scheme was not invalid on that ground. Absence of notice to the Central Government and the CBDT did not vitiate approval of the scheme where the company had given up the principal tax benefit under section 72A and the revenue impact was materially reduced. A shareholder's challenge to the rehabilitation order was found not bona fide because it did not dispute the earlier sickness declaration and appeared aimed at obstructing revival. The merger-based revival scheme was upheld and the objections were rejected. Case-Laws Companies Law Tue, 07 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40186