Tagged “scheme-of-arrangement”

2 articles on scheme-of-arrangement.

Supreme CourtSupreme Court of India

Miheer H. Mafatlal v. Mafatlal Industries: the company court's jurisdiction to sanction a scheme

The Supreme Court laid down the canonical checklist for sanctioning a scheme of arrangement — the court's role is supervisory, not appellate, and it does not sit in appeal over the commercial wisdom of the statutory majority.

Valkya Editorial·14 Jun 2026·8 min

Supreme CourtSupreme Court of India

Omkara Assets v. Amit Chaturvedi: defunct Scheme of Arrangement cannot stall Section 7

On 24 February 2026, the Supreme Court held that a stale and procedurally defective Scheme of Arrangement under Sections 391–394 of the Companies Act 1956 cannot defeat a Section 7 IBC application; Section 238 IBC override extends to defunct schemes; a 28-year corporate dispute reaches doctrinal resolution.

Valkya Editorial·2 Jun 2026·8 min