No tax avoidance in conversion of Indirect Shareholding in Direct through Merger

HIGH COURT OF BOMBAY AVM Capital Services (P.) Ltd.,  In re S.J. KATHAWALLA, J. co. scheme petition nos. 670 to 675 of 2011 CO. SUMMONS FOR DIRECTION NOs. 598  to 603 OF 2011 JULY 12, 2012 JUDGMENT 1. By the above Company Scheme Petitions, sanction of this Court is sought under Sections 391 to 394 read with Sections 80, 100 to 103 of the Companies Act, 1956, to the scheme of arrangement whereunder the five Companies AVM Capital Services Private Limited (ACPL); Chevy Capital Services Private Limited (CCSPL); PM Capital Services Private Limited (PCSPL); Pranit Trading Private ...