Objection of RD on a scheme not to survive if scheme gets unqualified consent of other parties

HIGH COURT OF GUJARAT Prayas Engineering Ltd., In re R.M. CHHAYA, J. CO. PETITION NOS. 228 & 231 of 2012 CO. APPLICATION NOS. 307 & 310 of 2012 DECEMBER  21, 2012 ORDER 1. These are the petitions filed by four group companies viz. Prayas Engineering Limited, EMTICI Engineering Limited, Elecon Engineering Company Limited and Elecon EPC Projects Limited, for the purpose of obtaining the sanction of this court to a Scheme of arrangement in the nature of De-merger and Transfer of different Undertakings between these four companies, proposed under section 391 and 394 read ...