https://www.taxtmi.com/caselaws?id=111261 Section 391 of the Companies Act, 1956 requires a dual majority in class meetings: a majority in number and at least three-fourths in value of those present and voting, not of the entire class of members or creditors. On that construction, the scheme of arrangement could be sanctioned on the basis of the voting members actually present at the meeting. The court also found no material infirmity in the sanction process, as the minority objections had been sufficiently addressed below, so the challenge to the sanctioned scheme failed. en-us Wed, 18 Apr 2007 00:00:00 +0530 Sat, 21 Apr 2012 14:39:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111261 Section 391 of the Companies Act, 1956 requires a dual majority in class meetings: a majority in number and at least three-fourths in value of those present and voting, not of the entire class of members or creditors. On that construction, the scheme of arrangement could be sanctioned on the basis of the voting members actually present at the meeting. The court also found no material infirmity in the sanction process, as the minority objections had been sufficiently addressed below, so the challenge to the sanctioned scheme failed. Case-Laws Companies Law Wed, 18 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111261