https://www.taxtmi.com/caselaws?id=296823 The Tribunal found the Scheme of Arrangement proposed by the Petitioner Company to be fair, reasonable, and compliant with the law. The Scheme involved reclassifying reserves as accumulated profits, providing flexibility for excess reserves without circumventing legal provisions. Despite objections raised by the Regional Director and Registrar of Companies, the Tribunal approved the Scheme, emphasizing shareholder benefits and public interest. The company was directed to ensure compliance with tax laws, obtain shareholder approval for significant outflows, and submit required documentation to relevant authorities. The Scheme was sanctioned, with specific orders for compliance and payment of costs. en-us Thu, 30 Aug 2018 00:00:00 +0530 Mon, 09 Aug 2021 08:52:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296823 The Tribunal found the Scheme of Arrangement proposed by the Petitioner Company to be fair, reasonable, and compliant with the law. The Scheme involved reclassifying reserves as accumulated profits, providing flexibility for excess reserves without circumventing legal provisions. Despite objections raised by the Regional Director and Registrar of Companies, the Tribunal approved the Scheme, emphasizing shareholder benefits and public interest. The company was directed to ensure compliance with tax laws, obtain shareholder approval for significant outflows, and submit required documentation to relevant authorities. The Scheme was sanctioned, with specific orders for compliance and payment of costs. Case-Laws Companies Law Thu, 30 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296823