https://www.taxtmi.com/caselaws?id=97179 Section 153 of the Indian Companies Act concerns whether the court should call a meeting of members to consider a proposed compromise or reconstruction scheme, not whether the scheme should then be sanctioned. Objections to the scheme, including any challenge based on revived personal liability, may be raised at the meeting and again at the sanction stage if the proposal is approved. The refusal below was erroneous because it treated the application as one for immediate sanction rather than for convening a meeting. Where the company's funds were in court and liabilities were substantially discharged, permission to convene the meeting was granted. en-us Fri, 13 Jun 1952 00:00:00 +0530 Sat, 14 Jan 2012 12:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97179 Section 153 of the Indian Companies Act concerns whether the court should call a meeting of members to consider a proposed compromise or reconstruction scheme, not whether the scheme should then be sanctioned. Objections to the scheme, including any challenge based on revived personal liability, may be raised at the meeting and again at the sanction stage if the proposal is approved. The refusal below was erroneous because it treated the application as one for immediate sanction rather than for convening a meeting. Where the company's funds were in court and liabilities were substantially discharged, permission to convene the meeting was granted. Case-Laws Companies Law Fri, 13 Jun 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97179