https://www.taxtmi.com/caselaws?id=97789 The High Court affirmed its jurisdiction under the Banking Companies Act to settle the list of debtors for a banking company operating under a scheme of arrangement. The court clarified that the company, despite functioning under a scheme, falls within the purview of the Act and rejected arguments challenging its jurisdiction. Emphasizing the distinction between schemes of arrangement and liquidation, the court held that schemes provide an alternative to winding up and do not equate to liquidation. It upheld its authority to oversee arrangements for banking companies under the Companies Act, dismissing objections and proceeding with the case. en-us Fri, 17 Feb 1961 00:00:00 +0530 Wed, 18 Jan 2012 11:02:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97789 The High Court affirmed its jurisdiction under the Banking Companies Act to settle the list of debtors for a banking company operating under a scheme of arrangement. The court clarified that the company, despite functioning under a scheme, falls within the purview of the Act and rejected arguments challenging its jurisdiction. Emphasizing the distinction between schemes of arrangement and liquidation, the court held that schemes provide an alternative to winding up and do not equate to liquidation. It upheld its authority to oversee arrangements for banking companies under the Companies Act, dismissing objections and proceeding with the case. Case-Laws Companies Law Fri, 17 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97789