https://www.taxtmi.com/caselaws?id=126980 A scheme of arrangement under Section 391(2) of the Companies Act, 1956 was found compliant because the requisite statutory majority of shareholders and creditors approved it, and the record disclosed the latest financial position, audit reports, and an affidavit confirming no pending investigation. Objections based on notice, newspaper publication, caveat, and the form of summons were rejected because meetings were individually served and publicly advertised as directed, no rule required publication only in local district newspapers, the caveator suffered no prejudice, and the summons defect did not affect sanction-stage validity. The scheme was treated as fair, lawful, and duly approved. en-us Tue, 19 Apr 2011 00:00:00 +0530 Mon, 15 Sep 2014 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126980 A scheme of arrangement under Section 391(2) of the Companies Act, 1956 was found compliant because the requisite statutory majority of shareholders and creditors approved it, and the record disclosed the latest financial position, audit reports, and an affidavit confirming no pending investigation. Objections based on notice, newspaper publication, caveat, and the form of summons were rejected because meetings were individually served and publicly advertised as directed, no rule required publication only in local district newspapers, the caveator suffered no prejudice, and the summons defect did not affect sanction-stage validity. The scheme was treated as fair, lawful, and duly approved. Case-Laws Companies Law Tue, 19 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126980