https://www.taxtmi.com/caselaws?id=234072 The court upheld the Company Judge's decision to exclude the Sugar Development Fund (SDF) from the Scheme of Arrangement for M/s Lakshmiji Sugar Mills Company Ltd. The exclusion was deemed necessary to maintain fairness among creditors, as the Scheme offered a lower settlement percentage to the SDF compared to other secured creditors. The court found that the SDF did not vote in favor of the Scheme, and its exclusion was justified to prevent discrimination. The appeal challenging the exclusion was dismissed, and parties were to bear their own costs. en-us Thu, 21 Mar 2013 00:00:00 +0530 Mon, 27 May 2013 13:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234072 The court upheld the Company Judge's decision to exclude the Sugar Development Fund (SDF) from the Scheme of Arrangement for M/s Lakshmiji Sugar Mills Company Ltd. The exclusion was deemed necessary to maintain fairness among creditors, as the Scheme offered a lower settlement percentage to the SDF compared to other secured creditors. The court found that the SDF did not vote in favor of the Scheme, and its exclusion was justified to prevent discrimination. The appeal challenging the exclusion was dismissed, and parties were to bear their own costs. Case-Laws Companies Law Thu, 21 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234072