https://www.taxtmi.com/caselaws?id=109967 The court approved a Scheme of Arrangement under section 391(1) of the Companies Act, 1956, resolving disputes with most creditors accepting claims except one. Payments were made in phases, with a four-year plan for the remaining balance. The company was allowed to pay creditors in installments, except one, and was directed to provide security for the unpaid balance. Interest at 5% per annum was ordered on creditor claims. Winding up was ordered but stayed pending scheduled payments, with the Official Liquidator to take over in case of default. Advertisement costs were to be paid, and non-appearing creditors couldn't take action without court permission. An injunction restrained a creditor from filing suit until after a specified period. All related applications were disposed of by the court. en-us Fri, 25 Feb 2005 00:00:00 +0530 Fri, 13 Apr 2012 12:24:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109967 The court approved a Scheme of Arrangement under section 391(1) of the Companies Act, 1956, resolving disputes with most creditors accepting claims except one. Payments were made in phases, with a four-year plan for the remaining balance. The company was allowed to pay creditors in installments, except one, and was directed to provide security for the unpaid balance. Interest at 5% per annum was ordered on creditor claims. Winding up was ordered but stayed pending scheduled payments, with the Official Liquidator to take over in case of default. Advertisement costs were to be paid, and non-appearing creditors couldn't take action without court permission. An injunction restrained a creditor from filing suit until after a specified period. All related applications were disposed of by the court. Case-Laws Companies Law Fri, 25 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109967