https://www.taxtmi.com/caselaws?id=113350 The court dismissed the application seeking to recall or modify the sanctioned scheme of compromise regarding deep discount bond (DDB) holders. It upheld the classification of DDB holders as secured creditors, emphasizing common terms offered to all secured creditors and approval by the requisite majority. The court found the applicant's arguments lacking merit, noting that purchasing DDB during proceedings did not entitle declassification of existing secured creditors or order recall. Compliance with statutory requirements for the scheme's offering was affirmed, and objections were duly considered, leading to the court's decision in favor of maintaining the sanctioned scheme. en-us Fri, 16 Apr 2010 00:00:00 +0530 Fri, 10 Oct 2014 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113350 The court dismissed the application seeking to recall or modify the sanctioned scheme of compromise regarding deep discount bond (DDB) holders. It upheld the classification of DDB holders as secured creditors, emphasizing common terms offered to all secured creditors and approval by the requisite majority. The court found the applicant's arguments lacking merit, noting that purchasing DDB during proceedings did not entitle declassification of existing secured creditors or order recall. Compliance with statutory requirements for the scheme's offering was affirmed, and objections were duly considered, leading to the court's decision in favor of maintaining the sanctioned scheme. Case-Laws Companies Law Fri, 16 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113350