https://www.taxtmi.com/caselaws?id=113585 The court rejected the approval of the demerger scheme, finding it prejudicial to creditors and shareholders. The scheme did not comply with statutory provisions under the Companies Act, as proper meetings were not convened, and necessary resolutions were missing. The court emphasized the importance of safeguarding the interests of all parties in corporate restructuring and upheld the dismissal of the appeal, affirming the lower court's decision. en-us Mon, 21 Dec 2009 00:00:00 +0530 Mon, 20 Oct 2014 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113585 The court rejected the approval of the demerger scheme, finding it prejudicial to creditors and shareholders. The scheme did not comply with statutory provisions under the Companies Act, as proper meetings were not convened, and necessary resolutions were missing. The court emphasized the importance of safeguarding the interests of all parties in corporate restructuring and upheld the dismissal of the appeal, affirming the lower court's decision. Case-Laws Companies Law Mon, 21 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113585