Court : Kerala
..... majority of the concerned creditors or members the court has to be satisfied that the company or any other person moving such an application for sanction under section 391(2) of the act had disclosed all the relevant matters mentioned in the proviso to section 391(2) of the act and also that the requisite information as contemplated under the proviso was also placed for consideration of the concerned voters so as to enable them to take an objective decision whether ..... was held therein that when a scheme is put forth by a company for the sanction of a court, at the first instance, the court has to direct holding of a meeting of the creditors or class of creditors, or of the members or class of members, who are concerned with such a scheme. ..... going by the relevant provisions incorporated in chapter v of part vi of the act dealing with `arbitration, compromises, arrangements and reconstructions', more particularly sections 391 and 393 of the act a compromise or arrangement can be proposed between a company and its creditors or any class of them or between a company and its members or any class of them and such compromise would also take in its compass a scheme of amalgamation ..... the contextual situation, it is relevant to note that the objections as noted above, would not actually reveal anything to suggest that the petitioners had committed any fraud on tax or that the scheme had any unconscionable or unfair terms. ..... peerless general finance and others ((2005) 62 scl 574 ..... finance .....
Tag this Judgment!Court : Kerala
..... petitioners, refuting the submissions of the learned advocate general contended that the property from which the petitioners are being directed to be evicted after removing the structures are properties owned by the petitioners, they were recorded as owners in thandaper of vanchiyoor village and they are paying land tax and asking the petitioners to vacate the portion and remove the building is nothing but violation of the petitioners ..... the government of any other state in india or the kerala state electricity board or to a university established by law or to any panchayat as defined in the kerala panchayat raj act, 1994 (13 of 1994) or any municipality as defined in the kerala municipality act, 1994 (20 of 1994) owned or controlled by the government of kerala or to a municipal corporation shall be deemed to be the property of government within the meaning of this section ..... much pressed by learned counsel for the petitioner is that there is no power under section 34(k) of the act in directing demolition of portion of construction of the petitioner's building/parking place standing on superjacent area of the canal. ..... appropriate writ or order declaring that the situation involved in the matter is not at all amenable to an action under the provisions of the dm act and interdict respondents 3 to 7 from taking any action against the petitioner in respect of his registered holdings and structures therein covered under exts.p1 ..... 34 is part of chapter iv of the act which deals with district .....
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