JUDGMENT

SURINDER SINGH NIJJAR,J.

1. Leave granted.

2. I.A. filed by Mr. B. Ramanna Kumar for substitution in place of Late Mr. N. Mani is allowed.

3. These appeals, arising out of S.L.P. (Civil) Nos. 12737-12740 of 2008, are directed against the common order and judgment dated 30th April 2008 passed by the Division Bench of the High Court of Judicature at Madras. Vide the aforesaid order, the order/judgment of the learned single judge dated 19th August 2006 passed in Company Petition No. 160 of 2005 was set aside.

4. The Company Petition No. 160 of 2005 was filed by the appellant company herein under Section 391 of the Companies Act, 1956 (hereinafter referred to as “the Companies Act”), seeking approval for the scheme of arrangement/compromise dated 10th August, 2005. The said agreement was entered into between the appellant company herein and its class of creditors, namely its deposit holders and bond holders. The learned Single Judge, vide order dated 19th August, 2006, was pleased to sanction the said scheme, albeit with some conditions. This order was challenged in the High Court by way of four original side appeals, which were allowed by the Division Bench vide the order dated 3