https://www.taxtmi.com/caselaws?id=401049 The application under sections 230-232 of the Companies Act, 2013 for a Scheme of Arrangement by way of Demerger filed by two companies was approved. The Board of Directors of both companies endorsed the proposed Scheme of demerger. Consents from shareholders, secured creditors, and unsecured creditors were obtained through affidavits, with directions issued for calling, convening, and holding meetings or dispensing with them based on consents received. Notices of the application were to be served on relevant authorities. The application was allowed with specified terms, including a deadline for filing the petition for approval of the scheme of arrangement. en-us Fri, 20 Nov 2020 00:00:00 +0530 Thu, 26 Nov 2020 10:51:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401049 The application under sections 230-232 of the Companies Act, 2013 for a Scheme of Arrangement by way of Demerger filed by two companies was approved. The Board of Directors of both companies endorsed the proposed Scheme of demerger. Consents from shareholders, secured creditors, and unsecured creditors were obtained through affidavits, with directions issued for calling, convening, and holding meetings or dispensing with them based on consents received. Notices of the application were to be served on relevant authorities. The application was allowed with specified terms, including a deadline for filing the petition for approval of the scheme of arrangement. Case-Laws Companies Law Fri, 20 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401049