Miheer H. Mafatlal Vs. Mafatlal Industries Ltd.

The scope of Company Court to sanction scheme of amalgamation is limited and therefore Court can intervene in matter only when it is not just and fair or prejudicial to the interest of share holders. Court can only go through scheme and examine whether it has complied requirements under Section 391 (2) and was passed requisite majority or not. Individual personal interest of minority share holders is of no concern unless it is affecting class interest of such equity shareholders.


Case List: Amalgamation

CASE LIST The fact that majority has approved the amalgamation scheme is not conclusive, however, it must be taken into account before in sanctioning the scheme. Sugarcane Growers and Sakthi Sugars Shareholders’ Association Vs. Sakthi Sugars Ltd., [1998] 93 CompCas 646 (Mad) J. S. Davar Vs. Shankar Vishnu Marathe, AIR 1967 Bom 456 While the court is not supposed…