https://www.taxtmi.com/caselaws?id=767246 In an amalgamation involving an insurance company and a non-insurance company, Section 35(1) of the Insurance Act, 1938 is explained as governing transfer or amalgamation of insurance business between insurers, not a scheme under Sections 230 to 232 of the Companies Act, 2013 that blends undertakings into one entity. On that basis, prior approval under Section 35(1) was treated as unnecessary. The analysis also states that Section 6A did not bar the scheme because the merger did not create the prohibited shareholding change suggested, and the Companies Act procedure had been complied with. en-us Mon, 10 Mar 2025 00:00:00 +0530 Wed, 12 Mar 2025 17:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767246 In an amalgamation involving an insurance company and a non-insurance company, Section 35(1) of the Insurance Act, 1938 is explained as governing transfer or amalgamation of insurance business between insurers, not a scheme under Sections 230 to 232 of the Companies Act, 2013 that blends undertakings into one entity. On that basis, prior approval under Section 35(1) was treated as unnecessary. The analysis also states that Section 6A did not bar the scheme because the merger did not create the prohibited shareholding change suggested, and the Companies Act procedure had been complied with. Case-Laws Companies Law Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767246