https://www.taxtmi.com/caselaws?id=109454 The Karnataka High Court had jurisdiction to entertain a petition under sections 391 to 394 of the Companies Act for a foreign company with its principal place of business in Bangalore. The Court sanctioned the Scheme of Arrangement involving the transfer of the petitioner's Bangalore Branch to the Transferee Company, as it was approved by the majority of creditors and shareholders, complied with statutory requirements, and was deemed fair and reasonable. The scheme was found to benefit shareholders, creditors, employees, and the public, leading to the Karnataka High Court approving it as binding on the parties involved. en-us Mon, 27 Oct 2003 00:00:00 +0530 Tue, 10 Apr 2012 12:57:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109454 The Karnataka High Court had jurisdiction to entertain a petition under sections 391 to 394 of the Companies Act for a foreign company with its principal place of business in Bangalore. The Court sanctioned the Scheme of Arrangement involving the transfer of the petitioner's Bangalore Branch to the Transferee Company, as it was approved by the majority of creditors and shareholders, complied with statutory requirements, and was deemed fair and reasonable. The scheme was found to benefit shareholders, creditors, employees, and the public, leading to the Karnataka High Court approving it as binding on the parties involved. Case-Laws Companies Law Mon, 27 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109454