https://www.taxtmi.com/caselaws?id=112642 A scheme of arrangement in the nature of demerger was sanctioned where the shareholders' and creditors' meetings had been duly held and approved by the requisite majorities. Objections raised on behalf of the Central Government, including alleged statutory non-compliances and a SEBI complaint, did not defeat sanction because no proceedings had been initiated and no concluded finding had been reached on those allegations. The sanction order expressly left the question of alleged breaches open and preserved the parties' right to pursue their respective contentions or defences in future proceedings. en-us Mon, 31 Aug 2009 00:00:00 +0530 Sat, 01 Nov 2014 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112642 A scheme of arrangement in the nature of demerger was sanctioned where the shareholders' and creditors' meetings had been duly held and approved by the requisite majorities. Objections raised on behalf of the Central Government, including alleged statutory non-compliances and a SEBI complaint, did not defeat sanction because no proceedings had been initiated and no concluded finding had been reached on those allegations. The sanction order expressly left the question of alleged breaches open and preserved the parties' right to pursue their respective contentions or defences in future proceedings. Case-Laws Companies Law Mon, 31 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112642