https://www.taxtmi.com/caselaws?id=97668 The court sanctioned a scheme of arrangement under section 391 of the Companies Act, 1956, confirming the reduction of capital and modifying special rights attached to preference shareholders. The court found the scheme fair and equitable, dismissing both appeals and ordering each party to bear its own costs. The court extended time for managing agents to pay off sundry creditors and modified the condition for dividend payments to shareholders to prevent the company's winding up and provide a chance for profit-making. en-us Tue, 11 Aug 1959 00:00:00 +0530 Tue, 17 Jan 2012 16:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97668 The court sanctioned a scheme of arrangement under section 391 of the Companies Act, 1956, confirming the reduction of capital and modifying special rights attached to preference shareholders. The court found the scheme fair and equitable, dismissing both appeals and ordering each party to bear its own costs. The court extended time for managing agents to pay off sundry creditors and modified the condition for dividend payments to shareholders to prevent the company's winding up and provide a chance for profit-making. Case-Laws Companies Law Tue, 11 Aug 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97668