https://www.taxtmi.com/caselaws?id=111572 The court approved a scheme of arrangement under sections 391(2) and 394 of the Companies Act despite objections raised by the Regional Director regarding accounting principles. Shareholders unanimously approved the scheme, which was found fair, reasonable, lawful, and in their interest. Separate meetings for preference shareholders and secured creditors were convened, with their unanimous approval. The court sanctioned the scheme, directing the petitioner company to pay costs to the Official Liquidator and file a certified copy of the order with the Registrar of Companies within a specified timeframe. en-us Fri, 12 May 2006 00:00:00 +0530 Tue, 24 Apr 2012 11:34:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111572 The court approved a scheme of arrangement under sections 391(2) and 394 of the Companies Act despite objections raised by the Regional Director regarding accounting principles. Shareholders unanimously approved the scheme, which was found fair, reasonable, lawful, and in their interest. Separate meetings for preference shareholders and secured creditors were convened, with their unanimous approval. The court sanctioned the scheme, directing the petitioner company to pay costs to the Official Liquidator and file a certified copy of the order with the Registrar of Companies within a specified timeframe. Case-Laws Companies Law Fri, 12 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111572