Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2015 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (5) TMI 832 - DELHI HIGH COURTApplication for Scheme of Arrangement under Sections 391(2) and 394 read with Section 100 of the Companies Act, 1956 - Held that:- The Chairpersons of the ordered meetings of the secured and unsecured creditors of the demerged company have filed their reports stating that the meetings were duly convened and re-convened, as directed, and that the Scheme of Arrangement has been approved unanimously by the secured and unsecured creditors of the demerged company, present and voting, in the meetings. No observations from Regional Director. No objection has been received to the Scheme of Arrangement from any other party. Considering the approval accorded by the shareholders and creditors of the petitioner companies to the proposed Scheme of Arrangement and the affidavit filed by the Regional Director, Northern Region, not raising any objection to the proposed Scheme of Arrangement, there appears to be no impediment to the grant of sanction to the Scheme of Arrangement. - Application approved.
|