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2006 (4) TMI 263 - HC - Companies LawExtract: .......d is still under challenge, as it has not been accepted by the objectors. The scheme as such cannot be said to be approved by the statutory majority, which acted in a bona fide manner. Further, the scheme is not found to be based on any broad or general principles inherent in any compromise or settlement. 21. The confirmation petition is dismissed.
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