https://www.taxtmi.com/caselaws?id=192473 Section 153 permits sanctioning a scheme effecting reorganisation of share capital and transfer of an undertaking; it applies whether the company is a going concern or being wound up, and statutory enabling provisions must be followed where applicable. The scheme met procedural requirements, secured requisite class majorities, and was proposed bona fide; valuation and distributions were considered commercially. Protection for dissentients is discretionary and need not be imposed absent special circumstances. The petition to sanction the scheme under Section 153 is therefore competent and the scheme may be authorised as presented. en-us Mon, 01 Feb 1937 00:00:00 +0530 Fri, 02 Jun 2017 15:18:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192473 Section 153 permits sanctioning a scheme effecting reorganisation of share capital and transfer of an undertaking; it applies whether the company is a going concern or being wound up, and statutory enabling provisions must be followed where applicable. The scheme met procedural requirements, secured requisite class majorities, and was proposed bona fide; valuation and distributions were considered commercially. Protection for dissentients is discretionary and need not be imposed absent special circumstances. The petition to sanction the scheme under Section 153 is therefore competent and the scheme may be authorised as presented. Case-Laws Companies Law Mon, 01 Feb 1937 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192473