https://www.taxtmi.com/caselaws?id=103783 The application to convene meetings under Section 391 of the Companies Act, 1956 was rejected by the court. The rejection was based on the lack of prima facie evidence of the Scheme's bona fides, significant opposition from creditors, the applicant-company's questionable conduct, and financial instability. The court emphasized the importance of ensuring the Scheme is bona fide and in the company's interest, following legal principles governing the court's role in sanctioning schemes under Section 391. en-us Fri, 16 Oct 1998 00:00:00 +0530 Fri, 24 Feb 2012 16:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103783 The application to convene meetings under Section 391 of the Companies Act, 1956 was rejected by the court. The rejection was based on the lack of prima facie evidence of the Scheme's bona fides, significant opposition from creditors, the applicant-company's questionable conduct, and financial instability. The court emphasized the importance of ensuring the Scheme is bona fide and in the company's interest, following legal principles governing the court's role in sanctioning schemes under Section 391. Case-Laws Companies Law Fri, 16 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103783