https://www.taxtmi.com/caselaws?id=327844 A scheme of arrangement for demerger, coupled with reduction of preference share capital, was sanctioned after the companies, shareholders and unsecured creditors approved it, and the Regional Director raised no objection on employee protection or regulatory compliance. The Court accepted that the statutory requirements under the Companies Act, 1956 were satisfied, found no detriment to employees, creditors, shareholders or the public, and noted that no proceedings were pending under sections 235 to 251. The scheme and the related capital reduction were therefore approved. en-us Tue, 19 Jan 2016 00:00:00 +0530 Fri, 20 May 2016 13:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327844 A scheme of arrangement for demerger, coupled with reduction of preference share capital, was sanctioned after the companies, shareholders and unsecured creditors approved it, and the Regional Director raised no objection on employee protection or regulatory compliance. The Court accepted that the statutory requirements under the Companies Act, 1956 were satisfied, found no detriment to employees, creditors, shareholders or the public, and noted that no proceedings were pending under sections 235 to 251. The scheme and the related capital reduction were therefore approved. Case-Laws Companies Law Tue, 19 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327844