https://www.taxtmi.com/caselaws?id=103998 A revival scheme for a company in liquidation is examined under section 391(2) of the Companies Act, 1956 on the basis of procedural compliance, fair class representation, commercial viability, and public interest. The note states that lawfully transferred shares and credits may be counted in the voting strength, and that the statutory majority can be read pragmatically by value as well as by represented persons. Objections based on alleged nondisclosure, substitution of the sponsor, register entries, and absence of a project report are treated as non-fatal where no material suppression is shown and the scheme remains otherwise validly approved. en-us Fri, 28 May 1993 00:00:00 +0530 Mon, 27 Feb 2012 10:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103998 A revival scheme for a company in liquidation is examined under section 391(2) of the Companies Act, 1956 on the basis of procedural compliance, fair class representation, commercial viability, and public interest. The note states that lawfully transferred shares and credits may be counted in the voting strength, and that the statutory majority can be read pragmatically by value as well as by represented persons. Objections based on alleged nondisclosure, substitution of the sponsor, register entries, and absence of a project report are treated as non-fatal where no material suppression is shown and the scheme remains otherwise validly approved. Case-Laws Companies Law Fri, 28 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103998