https://www.taxtmi.com/caselaws?id=326564 The High Court of Punjab and Haryana sanctioned the Scheme of Arrangement involving the demerger of a hospital into two companies. The court approved the scheme after considering compliance with procedural requirements under the Companies Act, evaluation of assets and liabilities, and confirmation of no pending investigations. The court directed the companies to comply with the sanctioned scheme within a specified timeframe, ordered the formal sanction order to be filed, and allowed interested parties to seek further directions. The petitioner companies also volunteered to deposit a specified sum in the Common Pool Fund Account of the Official Liquidator, which was accepted by the court. en-us Mon, 11 Jan 2016 00:00:00 +0530 Tue, 19 Apr 2016 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326564 The High Court of Punjab and Haryana sanctioned the Scheme of Arrangement involving the demerger of a hospital into two companies. The court approved the scheme after considering compliance with procedural requirements under the Companies Act, evaluation of assets and liabilities, and confirmation of no pending investigations. The court directed the companies to comply with the sanctioned scheme within a specified timeframe, ordered the formal sanction order to be filed, and allowed interested parties to seek further directions. The petitioner companies also volunteered to deposit a specified sum in the Common Pool Fund Account of the Official Liquidator, which was accepted by the court. Case-Laws Companies Law Mon, 11 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326564