https://www.taxtmi.com/caselaws?id=337825 A scheme of arrangement and amalgamation involving demerger and merger was found fit for sanction under the Companies Act, 1956 because the requisite approvals of equity shareholders and unsecured creditors had been obtained, the secured creditors' meeting had earlier been dispensed with, and no substantive objection remained from the Regional Director apart from compliance with RBI approval, FDI norms and other statutory requirements. The Court held that the scheme was supported by the material on record and by the procedure contemplated under Sections 391 to 394, and it sanctioned the scheme subject to the stated safeguards and compliance conditions. en-us Wed, 18 Jan 2017 00:00:00 +0530 Thu, 19 Jan 2017 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337825 A scheme of arrangement and amalgamation involving demerger and merger was found fit for sanction under the Companies Act, 1956 because the requisite approvals of equity shareholders and unsecured creditors had been obtained, the secured creditors' meeting had earlier been dispensed with, and no substantive objection remained from the Regional Director apart from compliance with RBI approval, FDI norms and other statutory requirements. The Court held that the scheme was supported by the material on record and by the procedure contemplated under Sections 391 to 394, and it sanctioned the scheme subject to the stated safeguards and compliance conditions. Case-Laws Companies Law Wed, 18 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337825