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2016 (7) TMI 344 - HC - Companies LawComposite Scheme of Arrangement is in the interest of its shareholders and creditors as well as in the public interest and the same deserves to be sanctioned. The Scheme is hereby sanctioned. The Restructure of Share Capital including Utilisation of Securities Premium Account as well as Reduction of Issued, Subscribed and Paid up Capital of the Petitioner Companies as envisaged vide Clauses- 25, 26.3, 39.3, 52.3 and 78 of the proposed Scheme are hereby sanctioned. The Minute as presented vide Paragraph 16 (a) is hereby approved. Prayers in terms of paragraph 17 (a) and (b)) of the Co. Petitions No. 173, 174 and 175 of 2016 are hereby granted. Prayers in terms of Paragraph 20 (a) of the Co. Petition No. 232 of 2016 and paragraph 19 (a) of the Com. Petition No. 233 of 2016 are hereby granted. Prayers in terms of paragraph 19 (a), 19 (a-1) and 19 (a-2) are hereby granted.
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