https://www.taxtmi.com/caselaws?id=109408 The court approved the petitions for sanction of a scheme of arrangement involving the de-merger and transfer of a division from one company to another under the Companies Act, 1956. The scheme aimed at different growth strategies and survival plans for specialized products of the companies, highlighting the advantages of the arrangement. Shareholders and creditors of both companies approved the scheme, addressing concerns raised by the Regional Director regarding listing of shares, reduction of capital, appointed date, and meeting of creditors of the Transferee Company. The court found the proposed arrangement to be in the interest of the companies, members, and creditors, granting the prayers in the petitions. en-us Thu, 28 Aug 2003 00:00:00 +0530 Mon, 09 Apr 2012 17:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109408 The court approved the petitions for sanction of a scheme of arrangement involving the de-merger and transfer of a division from one company to another under the Companies Act, 1956. The scheme aimed at different growth strategies and survival plans for specialized products of the companies, highlighting the advantages of the arrangement. Shareholders and creditors of both companies approved the scheme, addressing concerns raised by the Regional Director regarding listing of shares, reduction of capital, appointed date, and meeting of creditors of the Transferee Company. The court found the proposed arrangement to be in the interest of the companies, members, and creditors, granting the prayers in the petitions. Case-Laws Companies Law Thu, 28 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109408