https://www.taxtmi.com/caselaws?id=104521 The Supreme Court restored the order sanctioning a scheme of arrangement under the Companies Act, 1956, despite tax avoidance allegations. The Division Bench had set aside the sanction due to tax evasion concerns not addressed in the original proceedings. The Court emphasized the need to raise issues timely and upheld the original sanction to protect third-party rights established post-amalgamation. The appeal was allowed, setting aside the Division Bench's order and maintaining the sanction granted by the company judge, with no costs awarded. en-us Fri, 17 Oct 1997 00:00:00 +0530 Tue, 03 Sep 2013 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104521 The Supreme Court restored the order sanctioning a scheme of arrangement under the Companies Act, 1956, despite tax avoidance allegations. The Division Bench had set aside the sanction due to tax evasion concerns not addressed in the original proceedings. The Court emphasized the need to raise issues timely and upheld the original sanction to protect third-party rights established post-amalgamation. The appeal was allowed, setting aside the Division Bench's order and maintaining the sanction granted by the company judge, with no costs awarded. Case-Laws Companies Law Fri, 17 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104521