NCLT's condition that transferor co. would pay tax couldn't be sustained when transferee-co. undertook to pay taxes

COMPANY LAW : Where Tribunal approved scheme of amalgamation subject to condition that transferor company would pay entire tax liability, in view of fact that transferee company undertook to make payment in regard to demand raised by Income Tax Authority upon same becoming crystallized, while scheme of amalgamation remained intact, said condition could not be sustained

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