#Scheme of Arrangement

Bombay High Court rules that privilege fees under excise laws apply to liquor licence transfers via Scheme of Arrangement, but authorities cannot impose charges beyond statutory authorization. The judgment clarifies compliance requirements for corporate restructuring involving regulated licences, impacting distilleries and liquor manufacturers.

NCLAT affirms that a tribunal-approved scheme of arrangement under the Companies Act binds dissenting creditors, even if it mandates withdrawal of pending civil suits and assigns claims to a third party. The ruling reinforces the legal sanctity of court-sanctioned compromises over individual creditor objections, impacting creditor rights in corporate debt restructuring.

Supreme Court holds that delayed, non-compliant SOA under Companies Act cannot override IBC proceedings; Section 238 mandates priority for corporate revival.