https://www.taxtmi.com/caselaws?id=111924 The court granted the application under section 391 of the Companies Act, 1956, filed by Balaji Industrial Products Limited and Balaji Industrial Engineering Limited for a demerger scheme. The court dispensed with members' meetings but ordered separate meetings for secured and unsecured creditors of the Transferor Company. The scheme, approved by all shareholders and members, aimed to enhance collaboration and operational efficiencies, benefiting shareholders, creditors, employees, and stakeholders. The court's directions included convening creditor meetings, advertising in newspapers, appointing a Chairman, and specifying voting procedures, ensuring compliance with the Companies Act and safeguarding stakeholders' interests. en-us Fri, 22 Aug 2008 00:00:00 +0530 Mon, 01 Dec 2014 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111924 The court granted the application under section 391 of the Companies Act, 1956, filed by Balaji Industrial Products Limited and Balaji Industrial Engineering Limited for a demerger scheme. The court dispensed with members' meetings but ordered separate meetings for secured and unsecured creditors of the Transferor Company. The scheme, approved by all shareholders and members, aimed to enhance collaboration and operational efficiencies, benefiting shareholders, creditors, employees, and stakeholders. The court's directions included convening creditor meetings, advertising in newspapers, appointing a Chairman, and specifying voting procedures, ensuring compliance with the Companies Act and safeguarding stakeholders' interests. Case-Laws Companies Law Fri, 22 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111924