https://www.taxtmi.com/caselaws?id=105344 Shareholders and creditors unanimously approved the modified scheme of arrangement and demerger after notice and publication, and the statutory authorities raised no surviving objection; the scheme was therefore fit for sanction. Objections relating to reduction of paid-up share capital and insufficiency of authorised capital were also complied with: the capital reduction issue was addressed through a separate application allowed under the applicable company rules, and the enhanced authorised capital of the transferee companies was reported under section 97 of the Companies Act, 1956. With these compliances on record, no procedural or statutory impediment remained, and the modified scheme was sanctioned. en-us Wed, 28 Feb 2001 00:00:00 +0530 Mon, 05 Mar 2012 13:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105344 Shareholders and creditors unanimously approved the modified scheme of arrangement and demerger after notice and publication, and the statutory authorities raised no surviving objection; the scheme was therefore fit for sanction. Objections relating to reduction of paid-up share capital and insufficiency of authorised capital were also complied with: the capital reduction issue was addressed through a separate application allowed under the applicable company rules, and the enhanced authorised capital of the transferee companies was reported under section 97 of the Companies Act, 1956. With these compliances on record, no procedural or statutory impediment remained, and the modified scheme was sanctioned. Case-Laws Companies Law Wed, 28 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105344