Wednesday, 1 July 2015

Creditor's objection to arrangement scheme of Satyam was quashed as lacunae in liquidator's report w

CL : Where in a scheme of amalgamation, shareholders were not aggrieved about management of company and only raised a preliminary objection that reports of Official Liquidator (OL) were not in accordance with section 394 of Act, 1956, since opinion of OL or RD about management of affairs of company could only be an opinion which could have no value, such objection was to be dismissed

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