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<h1>High Court Bombay approves Companies Act scheme for property transfer & share capital reduction. Regional Director confirms creditor & shareholder non-prejudice.</h1> The High Court Bombay approved a scheme under section 391 of the Companies Act, 1956 for the transfer of company properties and reduction of share ... - The High Court Bombay sanctioned a scheme under section 391 of the Companies Act, 1956 for the transfer of company properties and reduction of share capital. The Regional Director confirmed compliance with relevant provisions and stated the scheme is not prejudicial to creditors or shareholders. The petition was granted, with costs fixed at Rs. 2,500.