https://www.taxtmi.com/caselaws?id=113189 The court dismissed the petition regarding a scheme of arrangement for the reconstruction of the petitioner-company based on estimated realizable values of its assets. It was held that the revaluation of assets by the company alone did not require court approval under sections 390 and 391 of the Companies Act, 1956. The court emphasized that revaluation is an accounting process permissible under section 211 and allowed the petitioner to proceed independently in accordance with the law. en-us Fri, 17 Sep 2010 00:00:00 +0530 Wed, 24 Sep 2014 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113189 The court dismissed the petition regarding a scheme of arrangement for the reconstruction of the petitioner-company based on estimated realizable values of its assets. It was held that the revaluation of assets by the company alone did not require court approval under sections 390 and 391 of the Companies Act, 1956. The court emphasized that revaluation is an accounting process permissible under section 211 and allowed the petitioner to proceed independently in accordance with the law. Case-Laws Companies Law Fri, 17 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113189