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2011 (12) TMI 419 - HIGH COURT OF CALCUTTAScheme of arrangement - Re-calling of the order - CTL and CML were family companies - Mining Division of CTL transferred and vested to CML – CTL moved an application for withdrawal of the application for transfer of the mining lease – Held that:- transfer of mining lease by CTL to CML is complete. The consent of the State Government has, since, been obtained. Therefore, in no case, the scheme could be frustrated - in between CTL and CML, the transaction is valid. CTL cannot, now, turn round and throw out CML on the plea of the transaction being unauthorised when CTL in the balance sheet admitted that the mining division of CTL has been transferred and vested in CML - application was jointly moved by CTL and CML. The order is a consent order. Therefore, it cannot be re-called at the instance of one of the party – Application dismissed
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