https://www.taxtmi.com/caselaws?id=797061 Conditional votes cast "for, with modification" cannot be treated as unconditional statutory assent to a revival scheme unless the legal effect of the attached modifications is determined, particularly where they affect contractual or financial rights. Under Sections 391 to 393, the required majority must approve the actual arrangement presented for sanction. Stakeholders must receive adequate material to make an informed decision, and the scheme must be just, fair and reasonable for the affected class. Numerical support alone does not satisfy these safeguards where the sanctioned arrangement, individual objections, material disclosures or affected contractual rights have not been substantively examined. en-us Thu, 13 Aug 2026 00:00:00 +0530 Mon, 31 Aug 2026 12:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797061 Conditional votes cast "for, with modification" cannot be treated as unconditional statutory assent to a revival scheme unless the legal effect of the attached modifications is determined, particularly where they affect contractual or financial rights. Under Sections 391 to 393, the required majority must approve the actual arrangement presented for sanction. Stakeholders must receive adequate material to make an informed decision, and the scheme must be just, fair and reasonable for the affected class. Numerical support alone does not satisfy these safeguards where the sanctioned arrangement, individual objections, material disclosures or affected contractual rights have not been substantively examined. Case-Laws Companies Law Thu, 13 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797061