https://www.taxtmi.com/caselaws?id=109105 The HC sanctioned the scheme of arrangement involving the demerger of L&T's cement business into CemCo and its acquisition by Grasim. The scheme complied with Sections 391 to 394 of the Companies Act, 1956, and was approved by the majority of shareholders and creditors. Objections by a few shareholders were dismissed as unsupported. The court found the valuation fair and the scheme aligned with public interest and policy. Regulatory compliance was ensured, and the reduction of share capital was confirmed. The petition was granted with conditions for legal formalities, awarding costs to the Regional Director. en-us Thu, 22 Apr 2004 00:00:00 +0530 Tue, 02 Jul 2024 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109105 The HC sanctioned the scheme of arrangement involving the demerger of L&T's cement business into CemCo and its acquisition by Grasim. The scheme complied with Sections 391 to 394 of the Companies Act, 1956, and was approved by the majority of shareholders and creditors. Objections by a few shareholders were dismissed as unsupported. The court found the valuation fair and the scheme aligned with public interest and policy. Regulatory compliance was ensured, and the reduction of share capital was confirmed. The petition was granted with conditions for legal formalities, awarding costs to the Regional Director. Case-Laws Companies Law Thu, 22 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109105