https://www.taxtmi.com/caselaws?id=194153 Sanction of a compromise scheme was approved as modified by Resolution No.1 where the court found statutory meeting procedure and voting valid because transfers of shares and assignments of creditor claims were effective under prior final orders; transferees/assignees were treated as members/creditors for statutory majorities. The court upheld the chairman's admissions and valuation of claims within the statement of affairs, directed reassessment of contested tax claims, and imposed conditional supervisory measures-including deposits, a court supervised management committee, limited restrictions on creditors converting credits into equity, and implementation safeguards-to secure commercial viability and public interest. en-us Fri, 28 May 1993 00:00:00 +0530 Wed, 30 Aug 2017 15:42:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194153 Sanction of a compromise scheme was approved as modified by Resolution No.1 where the court found statutory meeting procedure and voting valid because transfers of shares and assignments of creditor claims were effective under prior final orders; transferees/assignees were treated as members/creditors for statutory majorities. The court upheld the chairman's admissions and valuation of claims within the statement of affairs, directed reassessment of contested tax claims, and imposed conditional supervisory measures-including deposits, a court supervised management committee, limited restrictions on creditors converting credits into equity, and implementation safeguards-to secure commercial viability and public interest. Case-Laws Companies Law Fri, 28 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194153