https://www.taxtmi.com/caselaws?id=113091 The High Court sanctioned a scheme of arrangement under sections 391 to 394 of the Companies Act, 1956 for the merger of two companies. The scheme, approved by the Board of Directors and secured/unsecured creditors, addressed observations by the Registrar of Companies. It included increasing authorized capital, transferring employees, and ensuring no objections from shareholders, creditors, or employees. The court approved the scheme, subject to the High Court of judicature at Bombay's approval for one of the companies, directing compliance with Registrar of Companies' observations within thirty days. The sanctioned scheme would be binding on shareholders, creditors, and the company. en-us Thu, 08 Jul 2010 00:00:00 +0530 Sat, 04 Oct 2014 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113091 The High Court sanctioned a scheme of arrangement under sections 391 to 394 of the Companies Act, 1956 for the merger of two companies. The scheme, approved by the Board of Directors and secured/unsecured creditors, addressed observations by the Registrar of Companies. It included increasing authorized capital, transferring employees, and ensuring no objections from shareholders, creditors, or employees. The court approved the scheme, subject to the High Court of judicature at Bombay's approval for one of the companies, directing compliance with Registrar of Companies' observations within thirty days. The sanctioned scheme would be binding on shareholders, creditors, and the company. Case-Laws Companies Law Thu, 08 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113091