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Function of the Court:
In Scottish Insurance Corporation Ltd v. Wilsons & Clyde Coal Co. Lord Simmons stated:
"But important though its task is to see that the procedure by which a reduction of capital is carried through is formally correct and that creditors are not prejudiced, it has the further duty of satisfying itself that the scheme is fair and equitable between the different classes of shareholders". Therefore the court would therefore, not confirm a scheme of reduction if it is of the view that it is not "fair and equitable" to any of shareholders.
Explain the principle of absolute immunity The absolute immunity principle gradually eroded and restrictive immunity approach was followed. However, many developing countries r
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Some provisions of the Factories Act and its amendments are given below. 1. These provisions relate mainly to the health, safety and welfare of the workers in industry. 2.
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CASE LAW: The aforesaid statutory provisions for the protection of minorities have been supplemented by judicial intervention in a variety of cases which are generally expl
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