https://www.taxtmi.com/caselaws?id=109066 Pending sanction of a scheme of arrangement for reconstruction, the Company Court may examine the companies' financial position to ensure full disclosure of material facts under the proviso to section 391(2) of the Companies Act, 1956. It may also issue interlocutory and supervisory directions under sections 391 to 394 read with the Companies (Court) Rules, 1959, including preservation and recovery of assets and continuation of a committee, where needed to make the proposed scheme workable. The court is not functus officio during implementation and supervision, and a revival scheme is to be preferred where it can be made workable. en-us Wed, 31 Mar 2004 00:00:00 +0530 Thu, 05 Apr 2012 17:00:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109066 Pending sanction of a scheme of arrangement for reconstruction, the Company Court may examine the companies' financial position to ensure full disclosure of material facts under the proviso to section 391(2) of the Companies Act, 1956. It may also issue interlocutory and supervisory directions under sections 391 to 394 read with the Companies (Court) Rules, 1959, including preservation and recovery of assets and continuation of a committee, where needed to make the proposed scheme workable. The court is not functus officio during implementation and supervision, and a revival scheme is to be preferred where it can be made workable. Case-Laws Companies Law Wed, 31 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109066