https://www.taxtmi.com/caselaws?id=103285 The court revoked a winding up order issued in 1986 against a financially troubled company and approved a revival scheme proposed by T. S. Rai and Associates, supported by shareholders and secured creditors. An interim stay was granted on alienating assets, and the court emphasized the scheme's feasibility, viability, and bona fides. Despite some unsecured creditors' opposition, the court found the scheme just and reasonable, prioritizing public interest, creditor's rights, and the company's rehabilitation. Labor welfare, non-resident Indian investments, and creditor support were considered, ensuring a comprehensive evaluation benefiting all stakeholders. en-us Tue, 05 Sep 1995 00:00:00 +0530 Wed, 22 Feb 2012 11:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103285 The court revoked a winding up order issued in 1986 against a financially troubled company and approved a revival scheme proposed by T. S. Rai and Associates, supported by shareholders and secured creditors. An interim stay was granted on alienating assets, and the court emphasized the scheme's feasibility, viability, and bona fides. Despite some unsecured creditors' opposition, the court found the scheme just and reasonable, prioritizing public interest, creditor's rights, and the company's rehabilitation. Labor welfare, non-resident Indian investments, and creditor support were considered, ensuring a comprehensive evaluation benefiting all stakeholders. Case-Laws Companies Law Tue, 05 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103285