https://www.taxtmi.com/caselaws?id=466873 The Scheme of Arrangement transferring the T&D Undertaking to Transrail Lighting Limited, together with a reduction of Transrail's share capital, is sanctioned where approved by requisite majorities and found not contrary to law or public policy; the capital reduction is permissible because it does not diminish unpaid share liability or prejudice creditors; statutory and regulatory compliance-including adherence to applicable accounting standards and tax obligations-and necessary adjustments to authorised share capital are required and have been secured by undertakings; the sanction is subject to lodging, formal filings and payment of directed costs, and the Scheme will take effect upon satisfaction of those conditions. en-us Thu, 30 Mar 2017 00:00:00 +0530 Tue, 24 Feb 2026 08:36:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466873 The Scheme of Arrangement transferring the T&D Undertaking to Transrail Lighting Limited, together with a reduction of Transrail's share capital, is sanctioned where approved by requisite majorities and found not contrary to law or public policy; the capital reduction is permissible because it does not diminish unpaid share liability or prejudice creditors; statutory and regulatory compliance-including adherence to applicable accounting standards and tax obligations-and necessary adjustments to authorised share capital are required and have been secured by undertakings; the sanction is subject to lodging, formal filings and payment of directed costs, and the Scheme will take effect upon satisfaction of those conditions. Case-Laws Companies Law Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466873