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2010 (4) TMI 608 - HC - Companies LawScheme of compromise and arrangement - Held that:- The scheme of compromise and arrangement (revised) as per annexure B of Company Petition No. 215 of 2003 is hereby sanctioned, subject to modifications/orders mentioned above, so as to be binding, on the company, its members and creditors. In view of the scheme being sanctioned, all criminal cases filed against the company as well as the suits, execution petitions and; complaints/appeals before various forums shall stand abated and, payments made in these proceeds shall be adjusted against the outstanding debts payable to the claimants. The company shall file a certified copy of this order with the Registrar of Companies, Karnataka, within thirty days from the date of receipt of the certified copy of this order.Office is directed to draw the order in the prescribed form by incorporating the amendments as per this order without insisting for stamp duty since the scheme of compromise and arrangement is being sanctioned under section 391 of the Act, which is not covered by article 20(4) of Schedule I to the Karnataka Stamp Act, 1957. (g)All pending company applications are disposed of by separate orders.
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