https://www.taxtmi.com/caselaws?id=99861 Section 391 of the Companies Act was construed broadly in liquidation: a member, not only the liquidator, may apply for an arrangement, because the liquidator's right is additional and does not exclude pre-existing rights of members or creditors. Shareholders who had handed over share certificates after capital return remained members where their names continued in the register, so they retained locus to move the summons. A scheme to restart a company in liquidation was held maintainable under section 391 and could be placed before the members for consideration, as the provision extends to arrangements aimed at revival where no subsisting creditors remained. en-us Mon, 16 Oct 1978 00:00:00 +0530 Mon, 30 Jan 2012 13:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99861 Section 391 of the Companies Act was construed broadly in liquidation: a member, not only the liquidator, may apply for an arrangement, because the liquidator's right is additional and does not exclude pre-existing rights of members or creditors. Shareholders who had handed over share certificates after capital return remained members where their names continued in the register, so they retained locus to move the summons. A scheme to restart a company in liquidation was held maintainable under section 391 and could be placed before the members for consideration, as the provision extends to arrangements aimed at revival where no subsisting creditors remained. Case-Laws Companies Law Mon, 16 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99861