https://www.taxtmi.com/caselaws?id=171805 The Court sanctioned the Scheme of Arrangement between two companies and their shareholders and creditors under Sections 391 to 394 of the Companies Act, 1956. Despite objections from certain creditors and concerns raised by the Regional Director, the Court found the Scheme to be fair, reasonable, compliant with the law, and not against public policy. The Resulting Company No. 1 provided undertakings to address objections, and the Court granted liberty to initiate penal action for past violations. With all statutory compliances fulfilled, the Court approved the Scheme, subject to specified conditions and undertakings by the Petitioner Companies. en-us Tue, 24 Aug 2010 00:00:00 +0530 Tue, 04 Aug 2015 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171805 The Court sanctioned the Scheme of Arrangement between two companies and their shareholders and creditors under Sections 391 to 394 of the Companies Act, 1956. Despite objections from certain creditors and concerns raised by the Regional Director, the Court found the Scheme to be fair, reasonable, compliant with the law, and not against public policy. The Resulting Company No. 1 provided undertakings to address objections, and the Court granted liberty to initiate penal action for past violations. With all statutory compliances fulfilled, the Court approved the Scheme, subject to specified conditions and undertakings by the Petitioner Companies. Case-Laws Companies Law Tue, 24 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171805