https://www.taxtmi.com/caselaws?id=103135 The court allowed the petition and sanctioned the scheme of arrangement, directing the Registry to issue the formal order. The scheme was approved by the requisite majority of creditors and members, with no objections received. The court found the observations by the Central Government insignificant and declared the scheme binding on the companies and their stakeholders. Assets, liabilities, and reserves were to vest in accordance with the split balance-sheet, with the effective date upon filing the court's order with the Registrar of Companies. en-us Tue, 26 Nov 1991 00:00:00 +0530 Mon, 20 Feb 2012 18:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103135 The court allowed the petition and sanctioned the scheme of arrangement, directing the Registry to issue the formal order. The scheme was approved by the requisite majority of creditors and members, with no objections received. The court found the observations by the Central Government insignificant and declared the scheme binding on the companies and their stakeholders. Assets, liabilities, and reserves were to vest in accordance with the split balance-sheet, with the effective date upon filing the court's order with the Registrar of Companies. Case-Laws Companies Law Tue, 26 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103135