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2010 (9) TMI 220 - HC - Companies LawSeeking approval of the scheme of arrangement - Held that:- In view of the fact that revaluation of assets is bilateral in nature as per the scheme; in the interest of shareholders and is part of a scheme contemplating transfer of the Security Premium Account to the Business Reconstruction Reserve Account and the fact that there is no objection from the Regional Director, Northern Rezon, Ministry of Corporate Affairs, Noida, the Scheme as proposed is approved. The scheme shall be binding on the petitioner-Company, its shareholders, secured & unsecured creditors and all concerned.
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