https://www.taxtmi.com/caselaws?id=109519 The Court dismissed objections raised against a scheme of arrangement under Section 394(1) of the Companies Act, 1956. The objections, including lack of valuation, primarily benefiting promoters, and coercion of minority shareholders, were found meritless. The scheme was sanctioned, enabling the transfer of investment from NPIL to Kojam at a 1:4 exchange ratio. The Court emphasized the commercial wisdom of the Board and shareholders, highlighting benefits such as focusing on core business, improving financial indicators, and unlocking shareholder value through tradable shares. Compliance with statutory formalities and majority approval were confirmed, and allegations of coercion were unsubstantiated. en-us Thu, 04 Dec 2003 00:00:00 +0530 Tue, 10 Apr 2012 16:00:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109519 The Court dismissed objections raised against a scheme of arrangement under Section 394(1) of the Companies Act, 1956. The objections, including lack of valuation, primarily benefiting promoters, and coercion of minority shareholders, were found meritless. The scheme was sanctioned, enabling the transfer of investment from NPIL to Kojam at a 1:4 exchange ratio. The Court emphasized the commercial wisdom of the Board and shareholders, highlighting benefits such as focusing on core business, improving financial indicators, and unlocking shareholder value through tradable shares. Compliance with statutory formalities and majority approval were confirmed, and allegations of coercion were unsubstantiated. Case-Laws Companies Law Thu, 04 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109519