https://www.taxtmi.com/caselaws?id=126969 The court approved the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, for the merger of three transferor companies with the petitioner/transferee company. Despite objections raised by a creditor regarding debts and procedural issues, the court found the scheme compliant with statutory requirements, financially stable, and beneficial. The court emphasized the protection of creditors' and employees' rights, approved the scheme, and granted it effect from April 1, 2009, subject to further High Court sanction. The objector's rights in the pending winding-up petition were preserved, and a fee of Rs. 2,500 was awarded to the counsel. en-us Thu, 16 Dec 2010 00:00:00 +0530 Thu, 18 Sep 2014 19:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126969 The court approved the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956, for the merger of three transferor companies with the petitioner/transferee company. Despite objections raised by a creditor regarding debts and procedural issues, the court found the scheme compliant with statutory requirements, financially stable, and beneficial. The court emphasized the protection of creditors' and employees' rights, approved the scheme, and granted it effect from April 1, 2009, subject to further High Court sanction. The objector's rights in the pending winding-up petition were preserved, and a fee of Rs. 2,500 was awarded to the counsel. Case-Laws Companies Law Thu, 16 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126969