https://www.taxtmi.com/caselaws?id=102189 The court sanctioned the scheme under Section 391(2) of the Companies Act, 1956, allowing for the discharge of debts and repayment to shareholders of a company in liquidation. Despite objections from a dissenting unsecured creditor, the court found the scheme fair and reasonable, providing early relief and reviving the company. The dissenting creditor was granted full payment within two years with interest, while the company was rescued from liquidation proceedings. The official liquidator was directed to transfer assets to the petitioner, with winding-up expenses to be covered by the company. en-us Fri, 04 Jan 1991 00:00:00 +0530 Tue, 14 Feb 2012 10:15:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102189 The court sanctioned the scheme under Section 391(2) of the Companies Act, 1956, allowing for the discharge of debts and repayment to shareholders of a company in liquidation. Despite objections from a dissenting unsecured creditor, the court found the scheme fair and reasonable, providing early relief and reviving the company. The dissenting creditor was granted full payment within two years with interest, while the company was rescued from liquidation proceedings. The official liquidator was directed to transfer assets to the petitioner, with winding-up expenses to be covered by the company. Case-Laws Companies Law Fri, 04 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102189