https://www.taxtmi.com/caselaws?id=111027 The court approved the Scheme of arrangement/merger/amalgamation under sections 391 and 394 of the Companies Act. The Scheme was found to be in the interest of the companies' stakeholders, with no legal irregularities noted. Shareholders and creditors had unanimously approved the Scheme, leading the court to grant sanction, emphasizing the importance of respecting such approvals unless legal violations are evident. The court highlighted the administrative nature of the Scheme, focusing on operational improvements and cost reduction without prejudicing the rights of shareholders or creditors. Approval was subject to the Transferor Company obtaining similar sanction from the Delhi High Court. en-us Thu, 27 Oct 2005 00:00:00 +0530 Thu, 19 Apr 2012 17:48:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111027 The court approved the Scheme of arrangement/merger/amalgamation under sections 391 and 394 of the Companies Act. The Scheme was found to be in the interest of the companies' stakeholders, with no legal irregularities noted. Shareholders and creditors had unanimously approved the Scheme, leading the court to grant sanction, emphasizing the importance of respecting such approvals unless legal violations are evident. The court highlighted the administrative nature of the Scheme, focusing on operational improvements and cost reduction without prejudicing the rights of shareholders or creditors. Approval was subject to the Transferor Company obtaining similar sanction from the Delhi High Court. Case-Laws Companies Law Thu, 27 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111027