TaxTMI Login
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Just a moment...
AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the proposed composite scheme of arrangement should be sanctioned under the Companies Act, 1956.
Analysis: The objections raised by the Regional Director were met by the petitioner's assurance of compliance with FEMA, RBI guidelines, and income-tax requirements. No objections were received from shareholders, creditors, or any other person after publication. On the material placed before it, the Scheme was found to be fair and reasonable, not violative of law, and not contrary to public policy.
Conclusion: The Scheme of Arrangement was sanctioned.
Ratio Decidendi: A scheme of arrangement may be sanctioned where statutory observations are addressed, no stakeholder objections survive, and the Court is satisfied that the scheme is fair, reasonable, lawful, and consistent with public policy.
TaxTMI 
