https://www.taxtmi.com/caselaws?id=108417 Under section 391 of the Companies Act, 1956, valid secured creditor approval required creditors present and voting to represent three-fourths in value, and ballots cast with conditions or reservations were treated as invalid for that purpose. Where the only preference shareholder had received the scheme and given written assent, the absence of a separate meeting was treated as substantial compliance rather than a fatal defect. Disputed rights in the brand name and trade marks were left open for independent proceedings, as the company court would not adjudicate proprietary title in sanction proceedings. Modifications to a secured creditor's shareholding structure and the treatment of security over property were incorporated where they aligned with the scheme and protected creditor interests. en-us Thu, 13 Feb 2003 00:00:00 +0530 Mon, 05 Mar 2018 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108417 Under section 391 of the Companies Act, 1956, valid secured creditor approval required creditors present and voting to represent three-fourths in value, and ballots cast with conditions or reservations were treated as invalid for that purpose. Where the only preference shareholder had received the scheme and given written assent, the absence of a separate meeting was treated as substantial compliance rather than a fatal defect. Disputed rights in the brand name and trade marks were left open for independent proceedings, as the company court would not adjudicate proprietary title in sanction proceedings. Modifications to a secured creditor's shareholding structure and the treatment of security over property were incorporated where they aligned with the scheme and protected creditor interests. Case-Laws Companies Law Thu, 13 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108417