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2018 (12) TMI 1545 - AT - Companies LawScheme of merger by absorption as proposed by the Appellant wholly accepted by the National Company Law Tribunal, Mumbai Bench, except with regard to changing the appointed date of the scheme - Conduct of Business during the Interim Period - Held that:- We hold that the appointed date of the scheme shall remain 1st April, 2017 as proposed by the Appellant. We make it clear that the Income Tax Authorities would not be hindered in any manner due to this scheme of merger. They would be at liberty to proceed against Appellant No.1 – the transferee Company for Income Tax liabilities of Transferor Companies, irrespective of the appointed date of the scheme, in accordance with law and if there is any difficulty, and need arises, as per law, they would be at liberty to proceed even against the erstwhile persons, members/directors of Appellants 2 to 4, holding them also liable.
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