https://www.taxtmi.com/caselaws?id=235736 The Delhi High Court granted approval for the Scheme of Arrangement under Sections 391 and 394 of the Companies Act, 1956, involving Madhusudan Auto Limited and Strong Vintrade Private Limited. The Court dispensed with the need for meetings of equity shareholders, secured creditors, and unsecured creditors due to obtained consents and no objection certificates. With the majority of creditors consenting to the Scheme, including the Transferor Company's 42 unsecured creditors and 1 unsecured debenture holder, and the Transferee Company's 1 unsecured creditor, the Court allowed the application as presented, with immediate effect. en-us Wed, 03 Jul 2013 00:00:00 +0530 Fri, 02 Aug 2013 06:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235736 The Delhi High Court granted approval for the Scheme of Arrangement under Sections 391 and 394 of the Companies Act, 1956, involving Madhusudan Auto Limited and Strong Vintrade Private Limited. The Court dispensed with the need for meetings of equity shareholders, secured creditors, and unsecured creditors due to obtained consents and no objection certificates. With the majority of creditors consenting to the Scheme, including the Transferor Company's 42 unsecured creditors and 1 unsecured debenture holder, and the Transferee Company's 1 unsecured creditor, the Court allowed the application as presented, with immediate effect. Case-Laws Companies Law Wed, 03 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235736