https://www.taxtmi.com/caselaws?id=238854 The court allowed the application for a scheme of arrangement and compromise under sections 391 to 394 of the Companies Act, 1956, proposed by the ex-management of a company in liquidation. The court dismissed objections raised by workmen regarding the application's maintainability at the first motion stage, emphasizing that objections could be raised at later stages. Detailed directions were issued for convening meetings of creditors and shareholders, ensuring compliance with procedural requirements under the Companies Act. The judgment aimed to facilitate consideration of the proposed scheme while upholding legal procedures. en-us Wed, 03 Jul 2013 00:00:00 +0530 Fri, 01 Nov 2013 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238854 The court allowed the application for a scheme of arrangement and compromise under sections 391 to 394 of the Companies Act, 1956, proposed by the ex-management of a company in liquidation. The court dismissed objections raised by workmen regarding the application's maintainability at the first motion stage, emphasizing that objections could be raised at later stages. Detailed directions were issued for convening meetings of creditors and shareholders, ensuring compliance with procedural requirements under the Companies Act. The judgment aimed to facilitate consideration of the proposed scheme while upholding legal procedures. Case-Laws Companies Law Wed, 03 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238854