https://www.taxtmi.com/caselaws?id=327538 The Court sanctioned the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956 for the demerger of an Industrial Undertaking. The Court dispensed with the Equity Shareholders' meeting, directed creditor meetings, allowed modification of meeting venues, and granted dispensation for certain creditor and shareholder meetings. After addressing observations by the Regional Director, the Court granted sanction to the Scheme, determined costs, and instructed compliance procedures. The petitions were disposed of, concluding the legal proceedings for the demerger into the Resulting Company. en-us Wed, 04 May 2016 00:00:00 +0530 Thu, 12 May 2016 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327538 The Court sanctioned the Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956 for the demerger of an Industrial Undertaking. The Court dispensed with the Equity Shareholders' meeting, directed creditor meetings, allowed modification of meeting venues, and granted dispensation for certain creditor and shareholder meetings. After addressing observations by the Regional Director, the Court granted sanction to the Scheme, determined costs, and instructed compliance procedures. The petitions were disposed of, concluding the legal proceedings for the demerger into the Resulting Company. Case-Laws Companies Law Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327538