https://www.taxtmi.com/caselaws?id=99470 The court approved the scheme of arrangement between Ansal Steels Private Limited and Ansal Properties and Industries Limited under section 394 of the Companies Act, 1956. The court examined the shareholders' approval, the reasonableness of the scheme, and the creditors' interests in the merger. Emphasizing the protection of creditors' rights, the court highlighted scenarios where creditor meetings may be necessary. After reviewing the official liquidator's report and addressing tax liabilities, the court sanctioned the scheme, ensuring compliance with the Companies Act, 1956, and dismissing the petition. en-us Thu, 16 Dec 1976 00:00:00 +0530 Fri, 27 Jan 2012 14:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99470 The court approved the scheme of arrangement between Ansal Steels Private Limited and Ansal Properties and Industries Limited under section 394 of the Companies Act, 1956. The court examined the shareholders' approval, the reasonableness of the scheme, and the creditors' interests in the merger. Emphasizing the protection of creditors' rights, the court highlighted scenarios where creditor meetings may be necessary. After reviewing the official liquidator's report and addressing tax liabilities, the court sanctioned the scheme, ensuring compliance with the Companies Act, 1956, and dismissing the petition. Case-Laws Companies Law Thu, 16 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99470