https://www.taxtmi.com/caselaws?id=110820 A scheme of amalgamation requires the meetings to be properly convened, the class of shareholders to be fairly represented, and the statutory majority to act bona fide and without oppression. Where a substantial shareholder block was excluded from personal participation and represented only through attorneys and proxies under an arbitration arrangement under challenge, the voting process was materially affected and sanction could not rest on a valid statutory majority. An interim order under section 9 of the Arbitration and Conciliation Act, 1996 could not override participation rights under the Companies Act, and pending Company Law Board proceedings did not justify keeping the scheme petition in abeyance. The scheme was therefore not fit for sanction. en-us Fri, 28 Apr 2006 00:00:00 +0530 Wed, 18 Apr 2012 17:16:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110820 A scheme of amalgamation requires the meetings to be properly convened, the class of shareholders to be fairly represented, and the statutory majority to act bona fide and without oppression. Where a substantial shareholder block was excluded from personal participation and represented only through attorneys and proxies under an arbitration arrangement under challenge, the voting process was materially affected and sanction could not rest on a valid statutory majority. An interim order under section 9 of the Arbitration and Conciliation Act, 1996 could not override participation rights under the Companies Act, and pending Company Law Board proceedings did not justify keeping the scheme petition in abeyance. The scheme was therefore not fit for sanction. Case-Laws Companies Law Fri, 28 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110820