https://www.taxtmi.com/caselaws?id=111763 A scheme of arrangement approved by the requisite shareholder majority was sanctioned because no fraud, illegality, unfairness, or unreasonableness was shown. Objections that the restructuring would avoid capital gains tax or stamp duty were rejected, as tax or duty avoidance alone is not a ground to refuse a lawful court-sanctioned scheme. The court also found the payment mechanism, consideration, disclosure position, inclusion of the North India Plantation Division, and shareholder approval sufficiently clear and supported by the scheme documents. In the absence of substantiated uncertainty or illegality, the scheme was held sanctionable and the prayers were granted with costs. en-us Wed, 09 Apr 2008 00:00:00 +0530 Tue, 09 Dec 2014 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111763 A scheme of arrangement approved by the requisite shareholder majority was sanctioned because no fraud, illegality, unfairness, or unreasonableness was shown. Objections that the restructuring would avoid capital gains tax or stamp duty were rejected, as tax or duty avoidance alone is not a ground to refuse a lawful court-sanctioned scheme. The court also found the payment mechanism, consideration, disclosure position, inclusion of the North India Plantation Division, and shareholder approval sufficiently clear and supported by the scheme documents. In the absence of substantiated uncertainty or illegality, the scheme was held sanctionable and the prayers were granted with costs. Case-Laws Companies Law Wed, 09 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111763