https://www.taxtmi.com/caselaws?id=111442 The court rejected the petitioner's scheme and sanctioned the modified scheme proposed by the Sabha, with specific conditions. The sponsor was directed to deposit specified amounts within designated timeframes and provide a bank guarantee. The Official Liquidator was instructed to commence payment to workers after 30 days. The court granted liberty to parties to seek further orders in case of default or to request an extension of time. The judgment aimed to address issues such as interest rate increase, scheme approval, modifications by workers' unions, sponsor's financial solvency, and company court jurisdiction, ultimately ensuring improved benefits for workers and stakeholders. en-us Mon, 15 Jan 2007 00:00:00 +0530 Mon, 23 Apr 2012 15:30:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111442 The court rejected the petitioner's scheme and sanctioned the modified scheme proposed by the Sabha, with specific conditions. The sponsor was directed to deposit specified amounts within designated timeframes and provide a bank guarantee. The Official Liquidator was instructed to commence payment to workers after 30 days. The court granted liberty to parties to seek further orders in case of default or to request an extension of time. The judgment aimed to address issues such as interest rate increase, scheme approval, modifications by workers' unions, sponsor's financial solvency, and company court jurisdiction, ultimately ensuring improved benefits for workers and stakeholders. Case-Laws Companies Law Mon, 15 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111442