https://www.taxtmi.com/caselaws?id=113509 The court approved the petition for amalgamation of multiple companies and conversion of debt into equity under sections 391 and 394 of the Companies Act, 1956. The scheme included merging several companies with Ginni Filaments Limited and converting debt into equity to maintain a specified debt equity ratio. Despite objections raised by the Official Liquidator, the court found compliance with accounting standards and monitoring by the Corporate Debt Re-structuring Cell satisfactory, leading to the confirmation of the petition with conditions for restructuring and adherence to legal requirements. en-us Fri, 13 Nov 2009 00:00:00 +0530 Sat, 05 May 2012 16:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113509 The court approved the petition for amalgamation of multiple companies and conversion of debt into equity under sections 391 and 394 of the Companies Act, 1956. The scheme included merging several companies with Ginni Filaments Limited and converting debt into equity to maintain a specified debt equity ratio. Despite objections raised by the Official Liquidator, the court found compliance with accounting standards and monitoring by the Corporate Debt Re-structuring Cell satisfactory, leading to the confirmation of the petition with conditions for restructuring and adherence to legal requirements. Case-Laws Companies Law Fri, 13 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113509