https://www.taxtmi.com/caselaws?id=114085 The court sanctioned the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, despite objections raised by the Central Government and Kotak Mahindra Bank Ltd. The court found that the scheme had been approved by the requisite majority of secured creditors, disregarding the objections raised by Kotak Mahindra Bank Ltd. The objections by the Central Government were also dismissed as adequately addressed by the petitioner. Consequently, the court deemed the scheme beneficial to the members and not contrary to public interest, allowing the company petition and disposing of related applications. en-us Fri, 16 May 2008 00:00:00 +0530 Mon, 08 Dec 2014 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114085 The court sanctioned the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, despite objections raised by the Central Government and Kotak Mahindra Bank Ltd. The court found that the scheme had been approved by the requisite majority of secured creditors, disregarding the objections raised by Kotak Mahindra Bank Ltd. The objections by the Central Government were also dismissed as adequately addressed by the petitioner. Consequently, the court deemed the scheme beneficial to the members and not contrary to public interest, allowing the company petition and disposing of related applications. Case-Laws Companies Law Fri, 16 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114085