https://www.taxtmi.com/caselaws?id=336237 The Court sanctioned a Composite Scheme of Arrangement involving the transfer of the "Windmill Division" by way of 'Slump Sale' and the amalgamation of the Residual Undertaking under sections 391 to 394 of the Companies Act, 1956. The Court dispensed with shareholder and creditor meetings due to consent letters and financial standing. The Official Liquidator's report confirmed compliance, and the Regional Director's concerns were addressed. The Court approved the scheme, deeming it beneficial for shareholders, creditors, and the public. Directions were given for compliance and necessary filings within specified timelines. en-us Fri, 16 Dec 2016 00:00:00 +0530 Mon, 19 Dec 2016 09:08:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336237 The Court sanctioned a Composite Scheme of Arrangement involving the transfer of the "Windmill Division" by way of 'Slump Sale' and the amalgamation of the Residual Undertaking under sections 391 to 394 of the Companies Act, 1956. The Court dispensed with shareholder and creditor meetings due to consent letters and financial standing. The Official Liquidator's report confirmed compliance, and the Regional Director's concerns were addressed. The Court approved the scheme, deeming it beneficial for shareholders, creditors, and the public. Directions were given for compliance and necessary filings within specified timelines. Case-Laws Companies Law Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336237