https://www.taxtmi.com/caselaws?id=106849 The court sanctioned the scheme of arrangement under sections 391 and 394 of the Companies Act, 1956, between the transferor-company and the transferee-company, transferring the Barium Chemicals Division. Shareholders' consent was noted through affidavits, and majority creditor consent was discussed. The financial position of the transferee-company was addressed, ensuring employee rights and considering secured creditors' interests. The court found no objections from shareholders or significant prejudice to secured creditors, ultimately approving the scheme to safeguard all parties' interests and allowing the company petitions. en-us Fri, 19 Oct 2001 00:00:00 +0530 Fri, 16 Mar 2012 10:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106849 The court sanctioned the scheme of arrangement under sections 391 and 394 of the Companies Act, 1956, between the transferor-company and the transferee-company, transferring the Barium Chemicals Division. Shareholders' consent was noted through affidavits, and majority creditor consent was discussed. The financial position of the transferee-company was addressed, ensuring employee rights and considering secured creditors' interests. The court found no objections from shareholders or significant prejudice to secured creditors, ultimately approving the scheme to safeguard all parties' interests and allowing the company petitions. Case-Laws Companies Law Fri, 19 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106849