https://www.taxtmi.com/caselaws?id=110715 A Company Court may sanction a compromise and arrangement when the statutory majority supports it, material facts are disclosed, and the scheme is fair, lawful and not contrary to public policy; it does not reassess the commercial wisdom of creditors and shareholders. The text explains that Reserve Bank objections based on its statutory powers do not by themselves prevent sanction where the scheme serves stakeholders and is preferable to winding up. It also notes that disputed creditor-status claims may be rejected where secured status is not established, and pending civil and criminal proceedings may be kept in abeyance to support the approved scheme. en-us Tue, 24 Jan 2006 00:00:00 +0530 Wed, 18 Apr 2012 13:13:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110715 A Company Court may sanction a compromise and arrangement when the statutory majority supports it, material facts are disclosed, and the scheme is fair, lawful and not contrary to public policy; it does not reassess the commercial wisdom of creditors and shareholders. The text explains that Reserve Bank objections based on its statutory powers do not by themselves prevent sanction where the scheme serves stakeholders and is preferable to winding up. It also notes that disputed creditor-status claims may be rejected where secured status is not established, and pending civil and criminal proceedings may be kept in abeyance to support the approved scheme. Case-Laws Companies Law Tue, 24 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110715