Case 1: Delhi Towers Ltd. v. G.N.C.T. of Delhi MANU/DE/3152/2009 (Delhi High Court).
There are no judicial precedents that have held that the court is empowered to consider the merits of the terms on which the scheme for amalgamation has been proposed by the consenting parties. On the contrary statutory provisions mandate and judicial precedents have held that even a modification suggested by the court is required to have the approval of the shareholders and the creditors before it can be incorporated in the scheme. No adjudication is involved. The role of the court is merely supervisory within the contours of the broad parameters noticed hereinabove without ruling on the merits of the schemes placed before the court and its consideration is confined to the issue that the scheme was not violative of the principles of law, public policy and, was not opposed to public interest.
Case 2: Li Taka Pharmaceuticals Ltd. v. State of Maharashtra and other Bombay High Court.
Valuation on the instrument of the amalgamation scheme sanctioned by the court, after due verification, is to be determined by the stamp authority only on the basis of the price of the shares allotted to the transferor company or the consideration, if paid, but not separately valuing the assets and liabilities.