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Guest (Guest)     24 July 2009

section 391 read with section 100 of Companies Act, 1956

 If the equity shareholders or the stakeholders of the company have resolved consciously and approved the proposed scheme, it is not open for the Company Court to sit over the said view as an Appellate Court, unless the same was against the framework of law or public policy; there is nothing wrong in the decision taken in the proposed scheme to spread out or adjust and write off all the expenses - Hindalco Industries Ltd., In re [Company Petition No. 293 of 2009 connected with Company Application No. 234 of 2009]



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