https://www.taxtmi.com/caselaws?id=170953 A scheme of arrangement involving transfer of specified properties and reduction of share capital was sanctioned under Section 391 of the Companies Act, 1956 after the company complied with the procedural requirement under Rule 85 read with Section 100 for reduction of capital. The Regional Director raised no objection, confirmed that the scheme was not prejudicial to the interests of creditors or shareholders, and required only compliance with the reduction procedure. The petition was therefore made absolute in terms of the prayer clause. en-us Fri, 10 Feb 2006 00:00:00 +0530 Sat, 04 Jul 2015 12:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170953 A scheme of arrangement involving transfer of specified properties and reduction of share capital was sanctioned under Section 391 of the Companies Act, 1956 after the company complied with the procedural requirement under Rule 85 read with Section 100 for reduction of capital. The Regional Director raised no objection, confirmed that the scheme was not prejudicial to the interests of creditors or shareholders, and required only compliance with the reduction procedure. The petition was therefore made absolute in terms of the prayer clause. Case-Laws Companies Law Fri, 10 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170953