2001 (2) TMI 924 - HC - Companies Law

Summary

The High Court of Allahabad sanctioned the scheme of arrangement proposed between the transferee-company and five transferor companies, subject to modification of the appointed date. Shareholders and creditors unanimously approved the scheme, with the appointed date changed to 1-4-2001. The scheme was declared binding on the shareholders of the transferee-company, Rajratan Castings (P.) Ltd., pending approval by the Calcutta High Court for all five companies involved.