https://www.taxtmi.com/caselaws?id=113402 The court sanctioned the Scheme of Arrangement under section 391 of the Companies Act, 1956, proposed by the company. Despite objections from creditors, the court found the scheme just, fair, and beneficial to shareholders, as preference and equity shareholders had unanimously approved it. The court dismissed creditor objections, emphasizing the scheme's non-prejudicial nature to shareholders' interests. Ultimately, the court allowed the company's petition, rejecting creditor objections and directing the Registrar to draw the necessary order. en-us Thu, 06 May 2010 00:00:00 +0530 Tue, 07 Oct 2014 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113402 The court sanctioned the Scheme of Arrangement under section 391 of the Companies Act, 1956, proposed by the company. Despite objections from creditors, the court found the scheme just, fair, and beneficial to shareholders, as preference and equity shareholders had unanimously approved it. The court dismissed creditor objections, emphasizing the scheme's non-prejudicial nature to shareholders' interests. Ultimately, the court allowed the company's petition, rejecting creditor objections and directing the Registrar to draw the necessary order. Case-Laws Companies Law Thu, 06 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113402