https://www.taxtmi.com/caselaws?id=98693 Section 391 of the Companies Act, 1956 is described as a complete code for compromise and arrangement, with disclosure required at the sanction stage under the proviso to section 391(2). The note also states that a scheme may include capital reorganisation and reduction under sections 81 and 100 to 102, provided the prescribed safeguards are substantially complied with. It further explains that class meetings must be properly identified and conducted, that the requisite statutory majority must approve the scheme, and that a court may sanction a commercially fair and workable arrangement where it is preferable to compulsory liquidation and does not disguise fraud or mismanagement. en-us Wed, 10 Dec 1969 00:00:00 +0530 Sat, 21 Jan 2012 16:37:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98693 Section 391 of the Companies Act, 1956 is described as a complete code for compromise and arrangement, with disclosure required at the sanction stage under the proviso to section 391(2). The note also states that a scheme may include capital reorganisation and reduction under sections 81 and 100 to 102, provided the prescribed safeguards are substantially complied with. It further explains that class meetings must be properly identified and conducted, that the requisite statutory majority must approve the scheme, and that a court may sanction a commercially fair and workable arrangement where it is preferable to compulsory liquidation and does not disguise fraud or mismanagement. Case-Laws Companies Law Wed, 10 Dec 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98693