https://www.taxtmi.com/caselaws?id=419327 The Tribunal approved the Composite Scheme of Arrangement between the Transferor Company (FCSL) and Transferee Company (FTL) to achieve synergy benefits and reduce overheads. Share capital reduction in FTL was allowed to adjust the financial position accurately. Meetings for equity and preference shareholders were dispensed with as written consents were obtained. Meetings for secured and unsecured creditors were also dispensed with, subject to certain conditions. Both companies were directed to serve notices to regulatory authorities, and compliance was ordered. The Scheme was approved with specified conditions and directions. en-us Wed, 02 Mar 2022 00:00:00 +0530 Wed, 09 Mar 2022 08:28:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419327 The Tribunal approved the Composite Scheme of Arrangement between the Transferor Company (FCSL) and Transferee Company (FTL) to achieve synergy benefits and reduce overheads. Share capital reduction in FTL was allowed to adjust the financial position accurately. Meetings for equity and preference shareholders were dispensed with as written consents were obtained. Meetings for secured and unsecured creditors were also dispensed with, subject to certain conditions. Both companies were directed to serve notices to regulatory authorities, and compliance was ordered. The Scheme was approved with specified conditions and directions. Case-Laws Companies Law Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419327