https://www.taxtmi.com/caselaws?id=111571 The court dismissed the unsecured creditor's objection to the scheme of arrangement under the Companies Act, citing the genuine dispute over dues and ongoing arbitration proceedings. The court found the scheme beneficial for shareholders, emphasizing that objecting creditors must show adverse effects to oppose such schemes. It sanctioned the scheme as fair, reasonable, and in shareholders' interest, deferring the annual general meeting and awarding costs to the official liquidator. Judicial intervention was deemed unnecessary as the scheme was deemed lawful and not prejudicial. en-us Mon, 08 May 2006 00:00:00 +0530 Tue, 24 Apr 2012 11:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111571 The court dismissed the unsecured creditor's objection to the scheme of arrangement under the Companies Act, citing the genuine dispute over dues and ongoing arbitration proceedings. The court found the scheme beneficial for shareholders, emphasizing that objecting creditors must show adverse effects to oppose such schemes. It sanctioned the scheme as fair, reasonable, and in shareholders' interest, deferring the annual general meeting and awarding costs to the official liquidator. Judicial intervention was deemed unnecessary as the scheme was deemed lawful and not prejudicial. Case-Laws Companies Law Mon, 08 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111571