https://www.taxtmi.com/caselaws?id=96658 Persons who had obtained decrees before a scheme of arrangement was proposed remained decree-holders, not depositors, and therefore had no obligation to be bound by a subsequent sanctioned scheme that sought to deem them creditors; the Privy Council authority cited was inapplicable where the decree predated the agreement. The Court may expunge or modify parts of a sanctioned scheme if sanction was given without full appreciation of material circumstances or was per incuriam, and accordingly the deeming words were expunged and the petitioners were not bound; costs awarded against the company. en-us Mon, 05 Mar 1934 00:00:00 +0530 Tue, 10 Jan 2012 11:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96658 Persons who had obtained decrees before a scheme of arrangement was proposed remained decree-holders, not depositors, and therefore had no obligation to be bound by a subsequent sanctioned scheme that sought to deem them creditors; the Privy Council authority cited was inapplicable where the decree predated the agreement. The Court may expunge or modify parts of a sanctioned scheme if sanction was given without full appreciation of material circumstances or was per incuriam, and accordingly the deeming words were expunged and the petitioners were not bound; costs awarded against the company. Case-Laws Companies Law Mon, 05 Mar 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96658