https://www.taxtmi.com/caselaws?id=97355 Where meetings of creditors and contributories approved a compromise scheme, the court must exercise only supervisory oversight and may not decline or substitute implementation by preferring a creditor's alternate financier or reject the scheme for the implementer's non appearance without proper consideration; the District Judge's refusal on that ground was set aside and the matter remitted for decision in accordance with law. Separately, a deposit furnished by an outsider as security for performance cannot be appropriated as litigation costs payable to parties; the order directing expenditure of that deposit was set aside and the deposit must be retained to serve its intended purpose. en-us Mon, 31 Oct 1955 00:00:00 +0530 Mon, 16 Jan 2012 13:41:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97355 Where meetings of creditors and contributories approved a compromise scheme, the court must exercise only supervisory oversight and may not decline or substitute implementation by preferring a creditor's alternate financier or reject the scheme for the implementer's non appearance without proper consideration; the District Judge's refusal on that ground was set aside and the matter remitted for decision in accordance with law. Separately, a deposit furnished by an outsider as security for performance cannot be appropriated as litigation costs payable to parties; the order directing expenditure of that deposit was set aside and the deposit must be retained to serve its intended purpose. Case-Laws Companies Law Mon, 31 Oct 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97355