https://www.taxtmi.com/caselaws?id=422274 The court approved the Scheme of Arrangement between S.H. Pitkar Orthotools Private Limited (Demerged Company) and Precima Technologies Private Limited (Resulting Company), allowing the separation of the DIMF Business Division from the Surgical and Orthotools Division. The Board of Directors' approval was based on the growth prospects of S.H. Pitkar Orthotools Private Limited and the need for investor participation in the Surgical and Orthotools Business. Share allotment to equity shareholders post-Demerger was outlined to ensure a fair distribution of shares in Precima Technologies Private Limited. Consent from all Equity Shareholders was obtained, and the rights of Secured and Unsecured Creditors were preserved without impact from the Scheme. Notice requirements to regulatory authorities and creditors were emphasized for compliance with legal obligations. en-us Wed, 20 Apr 2022 00:00:00 +0530 Thu, 12 May 2022 08:46:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422274 The court approved the Scheme of Arrangement between S.H. Pitkar Orthotools Private Limited (Demerged Company) and Precima Technologies Private Limited (Resulting Company), allowing the separation of the DIMF Business Division from the Surgical and Orthotools Division. The Board of Directors' approval was based on the growth prospects of S.H. Pitkar Orthotools Private Limited and the need for investor participation in the Surgical and Orthotools Business. Share allotment to equity shareholders post-Demerger was outlined to ensure a fair distribution of shares in Precima Technologies Private Limited. Consent from all Equity Shareholders was obtained, and the rights of Secured and Unsecured Creditors were preserved without impact from the Scheme. Notice requirements to regulatory authorities and creditors were emphasized for compliance with legal obligations. Case-Laws Companies Law Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422274