https://www.taxtmi.com/caselaws?id=108947 A respondent with a direct legal interest in a scheme-sanction appeal may be transposed as an appellant where the order prejudicially affects that interest, and limitation will not defeat transposition if justice requires it. The Court also restated that sanction of a compromise or arrangement under section 391 of the Companies Act, 1956 depends on compliance with mandatory procedural safeguards, including required meetings and full disclosure, and on the Court's independent satisfaction that the scheme is fair, reasonable and bona fide. On the facts, the transposition was permitted, but the scheme sanction was found unsustainable and set aside for non-compliance with the statutory requirements. en-us Wed, 03 Apr 2002 00:00:00 +0530 Thu, 05 Apr 2012 10:48:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108947 A respondent with a direct legal interest in a scheme-sanction appeal may be transposed as an appellant where the order prejudicially affects that interest, and limitation will not defeat transposition if justice requires it. The Court also restated that sanction of a compromise or arrangement under section 391 of the Companies Act, 1956 depends on compliance with mandatory procedural safeguards, including required meetings and full disclosure, and on the Court's independent satisfaction that the scheme is fair, reasonable and bona fide. On the facts, the transposition was permitted, but the scheme sanction was found unsustainable and set aside for non-compliance with the statutory requirements. Case-Laws Companies Law Wed, 03 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108947