https://www.taxtmi.com/caselaws?id=103317 The court approved the scheme for the transfer and merger of the bulk drug division, subject to further confirmation by the Bombay High Court. Objections raised regarding the share exchange ratio, reduction of share capital, delisting of shares, and the managing director's financial competency were dismissed. The court emphasized shareholder and financial institution approvals, creditor protection, and the non-essential nature of certain objections. With overwhelming shareholder and creditor support, the scheme was confirmed with an effective date of 1-4-1995, concluding the legal proceedings. en-us Fri, 14 Jun 1996 00:00:00 +0530 Wed, 22 Feb 2012 13:23:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103317 The court approved the scheme for the transfer and merger of the bulk drug division, subject to further confirmation by the Bombay High Court. Objections raised regarding the share exchange ratio, reduction of share capital, delisting of shares, and the managing director's financial competency were dismissed. The court emphasized shareholder and financial institution approvals, creditor protection, and the non-essential nature of certain objections. With overwhelming shareholder and creditor support, the scheme was confirmed with an effective date of 1-4-1995, concluding the legal proceedings. Case-Laws Companies Law Fri, 14 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103317