https://www.taxtmi.com/caselaws?id=357549 The High Court approved the Scheme of Arrangement (Demerger) between two companies after meetings with shareholders and creditors. The Tribunal was directed to sanction the modified scheme, emphasizing compliance with Section 66 of the Companies Act, 2013. Objections were withdrawn, and secured lenders supported the scheme. The Long Stop Date was extended, accounting standards were adjusted, and rights of employees were protected. The Tribunal's initial order was set aside, and the scheme was approved with modifications, including an extended Long Stop Date and protection of employee rights. en-us Wed, 28 Feb 2018 00:00:00 +0530 Sat, 24 Mar 2018 08:41:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357549 The High Court approved the Scheme of Arrangement (Demerger) between two companies after meetings with shareholders and creditors. The Tribunal was directed to sanction the modified scheme, emphasizing compliance with Section 66 of the Companies Act, 2013. Objections were withdrawn, and secured lenders supported the scheme. The Long Stop Date was extended, accounting standards were adjusted, and rights of employees were protected. The Tribunal's initial order was set aside, and the scheme was approved with modifications, including an extended Long Stop Date and protection of employee rights. Case-Laws Companies Law Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357549