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Case Law Details

Case Name : In re Gabs Investments Pvt. Limited Vs Ajanta Pharma Limited (NCLT Mumbai)
Related Assessment Year :
Courts : NCLT
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In re Gabs Investments Pvt. Limited Vs Ajanta Pharma Limited (NCLT Mumbai)

Conclusion: Scheme of Amalgamation and Arrangement between G Pvt. Ltd.  (‘Transferor Company’) and A Limited (`Transferee Company’) and their respective shareholders appeared to be unfair, unreasonable and was not in the public interest as the scheme was devised mainly to benefit the four share holders of G who were also the promoters of A (common promoters) and by this scheme, huge tax liability was being avoided

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