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        Case ID :
        Companies Law

        Transfer of applications - Sanction of a scheme of compromise -...

        Court Approves Compromise Scheme Under Companies Act, 1956; Applications u/s 392 Deemed Misconceived Due to Misinterpretation.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Transfer of applications - Sanction of a scheme of compromise - the Scheme was sanctioned by this Court and several applications were dealt with thereafter under Section 392 of CA 1956. Indeed, it bears repetition that the cut-off, as regards schemes of arrangement, is fixed at the advanced stage of reserving orders in the proceedings. Consequently, there is no provision analogous to the last proviso to Section 434(1) of CA 2013 to seek transfer of retained matters. In fine, these applications are completely misconceived and premised on the mistaken notion that CA 2013 provides for transfer of applications. - HC
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