https://www.taxtmi.com/caselaws?id=110505 The court sanctioned the Modified Scheme of Arrangement under relevant sections of the Companies Act, 1956, between two petitioner Companies, despite objections from State Bank of India (SBI) and Industrial Investment Bank of India (IIBI). The court found the Scheme to be just, fair, and reasonable, promoting better administration and operational efficiency. The objections raised by SBI and IIBI were dismissed as unsustainable, and the Scheme became binding on all parties involved from January 1, 2003. The petitioner-Companies were directed to communicate the order to the Registrar of Companies within six weeks, with each party bearing its own costs. en-us Mon, 02 Aug 2004 00:00:00 +0530 Tue, 17 Apr 2012 12:04:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110505 The court sanctioned the Modified Scheme of Arrangement under relevant sections of the Companies Act, 1956, between two petitioner Companies, despite objections from State Bank of India (SBI) and Industrial Investment Bank of India (IIBI). The court found the Scheme to be just, fair, and reasonable, promoting better administration and operational efficiency. The objections raised by SBI and IIBI were dismissed as unsustainable, and the Scheme became binding on all parties involved from January 1, 2003. The petitioner-Companies were directed to communicate the order to the Registrar of Companies within six weeks, with each party bearing its own costs. Case-Laws Companies Law Mon, 02 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110505