https://www.taxtmi.com/caselaws?id=384812 The Tribunal sanctioned the Scheme of Arrangement between New Kenilworth Hotel Private Limited (NKHPL) and KHR Hospitality India Limited (KHIL), transferring the Goa Undertaking from NKHPL to KHIL while retaining the Residuary Undertaking. The Scheme, approved by both companies' Board of Directors, aimed to enhance business focus and profitability. With no objections from equity shareholders and approval from creditors, the Tribunal found the Scheme compliant with statutory requirements, not contrary to public policy or shareholders' interests, and approved the transfer of assets, liabilities, and legal proceedings. The Company Petition and related matters were disposed of, with provisions for compliance and further applications if necessary. en-us Tue, 20 Aug 2019 00:00:00 +0530 Thu, 22 Aug 2019 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384812 The Tribunal sanctioned the Scheme of Arrangement between New Kenilworth Hotel Private Limited (NKHPL) and KHR Hospitality India Limited (KHIL), transferring the Goa Undertaking from NKHPL to KHIL while retaining the Residuary Undertaking. The Scheme, approved by both companies' Board of Directors, aimed to enhance business focus and profitability. With no objections from equity shareholders and approval from creditors, the Tribunal found the Scheme compliant with statutory requirements, not contrary to public policy or shareholders' interests, and approved the transfer of assets, liabilities, and legal proceedings. The Company Petition and related matters were disposed of, with provisions for compliance and further applications if necessary. Case-Laws Companies Law Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384812