TaxTMI 
TaxTMI 
2007 (11) TMI 413
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.... 2. The transferor-companies and the transferee-company belong to the same group of management and are engaged in a similar line of commercial activities in the realty sector. Moreover, the business line is similar as well as complementary in nature, hence, the Board of directors of all these companies thought it fit to amalgamate them for achieving synergic advantages. It is thought fit to consolidate all the operations under one company. This would lead to benefits of economies of the scale, make administration easier and control systems more efficiently. The amalgamated company would be in a position to maximise its profits through optimum utilisation of its resources and minimising administration and operational costs. This will also r....
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....ters placed on record. 6. All the three petitions were admitted vide separate orders dated 19-9-2007. Public notices for Company Petition Nos. 184 and 185 of 2007 were duly advertised in the newspapers, viz., The Indian Express English daily) and Sandesh (Gujarati daily), both of Ahmedabad edition on 26-9-2007. The publication in the Government Gazette was dispensed with. Common affidavit dated 9-10-2007, filed in these two petitions confirms the same. No one has come forward with any objection to the said petitions even after publication. Similarly, public notices for Company Petition No. 183 of 2007 were duly advertised in the newspaper. A separate affidavit is filed in Company Petition No. 183 of 2007 confirming that advertisements were....
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....l as the transferor-companies were annexed along with the said additional affidavit. So far as the second issue is concerned it is submitted that in case of increase of share capital or transfer of share capital of transferor-companies to transferee-com- pany or combined authorised capital not exceeding authorised capital of all the three companies, no further fee or stamp duty is required to be paid, because the requisite fee has already been paid on the authorised capital of the transferor-companies and merely because of their merger with the transferee-company, there is no reason why the same fee should be paid again by the transferee-company on the same authorised capital. The scheme provides that authorised capital of the transferor-co....