https://www.taxtmi.com/caselaws?id=172673 Whether a creditors' compromise approved by the requisite majority binds all creditors from the meeting date was resolved by construing the statutory phrase to mean the agreement is binding from the date it is arrived at at the meeting, subject to later judicial sanction; if the Court subsequently refuses sanction the compromise becomes without effect. The HC applied this construction of the statutory language to uphold the lower court's view and dismissed the appeal, resulting in the creditor being bound by the meeting-approved arrangement pending sanction. en-us Fri, 31 Jan 1919 00:00:00 +0530 Mon, 07 Dec 2015 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172673 Whether a creditors' compromise approved by the requisite majority binds all creditors from the meeting date was resolved by construing the statutory phrase to mean the agreement is binding from the date it is arrived at at the meeting, subject to later judicial sanction; if the Court subsequently refuses sanction the compromise becomes without effect. The HC applied this construction of the statutory language to uphold the lower court's view and dismissed the appeal, resulting in the creditor being bound by the meeting-approved arrangement pending sanction. Case-Laws Companies Law Fri, 31 Jan 1919 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172673