Amalgamation of Companies and the Law Laid Down by the Hon'ble Supreme Court of India in General Radio's Case
By
Prabuddha N. Chatterjee
General Radio and Appliances Co. Ltd. v. M.A. Khader (Deed.) by Legal Representatives. AIR 1986 SC 1218 (hereinafter referred to as General Radio's case) is one of the most important decisions of the Hon'ble Supreme Court of India in 1986. The Corporate Lawyers as well as the Legislators should take note of the law laid down by Hon'ble Supreme Court of India and should find out lawful ways and means so that amalgamation, one of the modes of unification of Corporations for protecting weak companies from winding up as well as for forming Giant Corporation, is not wiped out from Company Jurisprudence.
Lord Lindley in the Sixth edition of "Treatise on the Law of Companies" commented that although the word "Amalgamation" is frequently used in connection with Companies, it does not seem to have acquired any technical or well defined meaning.
It is perhaps generally understood to express or imply transfer by one or more companies of their assets and liabil ....