https://www.taxtmi.com/caselaws?id=398008 The term "arrangement" under company law is of wide amplitude and may cover a composite scheme that includes ratification, regularisation, conversion, reduction, and other share-related restructuring steps. A proposal does not fall outside the scheme provisions merely because it also seeks to cure prior allotment-related actions. Procedural objections by the Regional Director were treated as insufficient where they did not show illegality, contravention of law, or conflict with public policy. The shareholder objection also failed because the objector lacked the requisite standing. On that basis, the scheme was considered fair, reasonable, and lawful, and sanction was granted with consequential compliance directions. en-us Mon, 06 Jul 2020 00:00:00 +0530 Fri, 04 Sep 2020 17:24:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398008 The term "arrangement" under company law is of wide amplitude and may cover a composite scheme that includes ratification, regularisation, conversion, reduction, and other share-related restructuring steps. A proposal does not fall outside the scheme provisions merely because it also seeks to cure prior allotment-related actions. Procedural objections by the Regional Director were treated as insufficient where they did not show illegality, contravention of law, or conflict with public policy. The shareholder objection also failed because the objector lacked the requisite standing. On that basis, the scheme was considered fair, reasonable, and lawful, and sanction was granted with consequential compliance directions. Case-Laws Companies Law Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398008