https://www.taxtmi.com/caselaws?id=109375 The Court sanctioned the Scheme of Arrangement and approved the reduction of share capital sought by the Transferor and Transferee Companies. Objections raised by the Central Government were countered successfully, with shareholder and creditor approval noted. The Court's role was supervisory, ensuring fairness and legality. Emphasizing the shareholders' decision-making authority, the Court found the scheme fair and not prejudicial, concluding it did not contravene public policy or statutory provisions. As a result, the Company Petitions were allowed, the Scheme of Arrangement was sanctioned, and the share capital reduction was approved, with the Transferor Company to be dissolved and amalgamated with the Transferee Company. en-us Fri, 20 Feb 2004 00:00:00 +0530 Mon, 09 Apr 2012 13:34:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109375 The Court sanctioned the Scheme of Arrangement and approved the reduction of share capital sought by the Transferor and Transferee Companies. Objections raised by the Central Government were countered successfully, with shareholder and creditor approval noted. The Court's role was supervisory, ensuring fairness and legality. Emphasizing the shareholders' decision-making authority, the Court found the scheme fair and not prejudicial, concluding it did not contravene public policy or statutory provisions. As a result, the Company Petitions were allowed, the Scheme of Arrangement was sanctioned, and the share capital reduction was approved, with the Transferor Company to be dissolved and amalgamated with the Transferee Company. Case-Laws Companies Law Fri, 20 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109375