https://www.taxtmi.com/caselaws?id=104095 The court approved the scheme of arrangement under sections 391 and 394 of the Companies Act, 1956, allowing the transfer of a unit from the transferor-company to the transferee-company. The scheme was presented to shareholders and creditors for corporate reconstruction, with detailed terms specified and meetings held as per court orders. Both petitioner companies filed for sanction of the scheme, which was unanimously approved by creditors and shareholders. The court, after ensuring compliance and stakeholder benefits, sanctioned the scheme, making it binding on all stakeholders. Compliance with relevant provisions was ordered, and the scheme was implemented as proposed, in accordance with the Companies Act. en-us Wed, 10 Feb 1999 00:00:00 +0530 Mon, 27 Feb 2012 16:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104095 The court approved the scheme of arrangement under sections 391 and 394 of the Companies Act, 1956, allowing the transfer of a unit from the transferor-company to the transferee-company. The scheme was presented to shareholders and creditors for corporate reconstruction, with detailed terms specified and meetings held as per court orders. Both petitioner companies filed for sanction of the scheme, which was unanimously approved by creditors and shareholders. The court, after ensuring compliance and stakeholder benefits, sanctioned the scheme, making it binding on all stakeholders. Compliance with relevant provisions was ordered, and the scheme was implemented as proposed, in accordance with the Companies Act. Case-Laws Companies Law Wed, 10 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104095