https://www.taxtmi.com/caselaws?id=290228 A scheme sanctioned by the Court could not stand where the shareholder approval related to an advance of Rs. 10,00,000 only, but the sanctioned arrangement included an additional advance of Rs. 62,000. The earlier assent did not amount to approval of a materially altered scheme, because the consent given at the meeting was confined to the specific terms then placed before shareholders. Once the sanctioned scheme differed in substance from the one approved, the basis for treating it as duly authorised failed, and the orders made on that footing were liable to be set aside. en-us Fri, 05 Jul 1929 00:00:00 +0530 Fri, 09 Oct 2020 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290228 A scheme sanctioned by the Court could not stand where the shareholder approval related to an advance of Rs. 10,00,000 only, but the sanctioned arrangement included an additional advance of Rs. 62,000. The earlier assent did not amount to approval of a materially altered scheme, because the consent given at the meeting was confined to the specific terms then placed before shareholders. Once the sanctioned scheme differed in substance from the one approved, the basis for treating it as duly authorised failed, and the orders made on that footing were liable to be set aside. Case-Laws Companies Law Fri, 05 Jul 1929 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290228