https://www.taxtmi.com/caselaws?id=108126 A repayment arrangement in a winding up matter concerning a sick company may be sanctioned if it is fair, reasonable, and proportionate, and if it balances the company's interest with the interests of creditors dealing with public money. The Court emphasised that the scheme must provide for liquidation of debts within a reasonable time, rather than merely postponing winding up, and that similarly placed creditors must be treated alike without undue preference. The repayment schedule was approved on uniform terms for all concerned creditors, subject to compliance with the Court's conditions, and default was to lead to liquidation proceedings. en-us Mon, 07 Aug 2000 00:00:00 +0530 Fri, 30 Mar 2012 11:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108126 A repayment arrangement in a winding up matter concerning a sick company may be sanctioned if it is fair, reasonable, and proportionate, and if it balances the company's interest with the interests of creditors dealing with public money. The Court emphasised that the scheme must provide for liquidation of debts within a reasonable time, rather than merely postponing winding up, and that similarly placed creditors must be treated alike without undue preference. The repayment schedule was approved on uniform terms for all concerned creditors, subject to compliance with the Court's conditions, and default was to lead to liquidation proceedings. Case-Laws Companies Law Mon, 07 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108126