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2000 (12) TMI 871 - SC - Companies LawCompromise and arrangement - Held that:- The appropriate time for the company judge to consider the scheme is subsequent to approval thereof by the shareholders and creditors of the appellant-company. Therefore, the order of the learned company judge and the order under appeal must be set aside and liberty given to the appellant-company to move the High Court for directions for calling meetings of its shareholders and creditors for the purposes of considering and approving the scheme. Once that has been done, a further application will be required to be made before the learned company judge.
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