https://www.taxtmi.com/caselaws?id=374088 The Tribunal approved the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, involving the demerger of undertakings and issuance of redeemable preference shares. Despite objections from an unsecured creditor, the Tribunal found them ineligible due to the amount being less than 5% of total debt. No objections were raised by the Regional Director and Income Tax Department, although the Department of Telecommunications imposed conditions. The petitioners agreed to comply with these conditions, and the Tribunal ordered the transfer of properties to the transferee companies. Compliance with statutory requirements was mandated, and the petition was disposed of with specified directions. en-us Thu, 17 Jan 2019 00:00:00 +0530 Thu, 24 Jan 2019 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374088 The Tribunal approved the Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, involving the demerger of undertakings and issuance of redeemable preference shares. Despite objections from an unsecured creditor, the Tribunal found them ineligible due to the amount being less than 5% of total debt. No objections were raised by the Regional Director and Income Tax Department, although the Department of Telecommunications imposed conditions. The petitioners agreed to comply with these conditions, and the Tribunal ordered the transfer of properties to the transferee companies. Compliance with statutory requirements was mandated, and the petition was disposed of with specified directions. Case-Laws Companies Law Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374088