[1] This is a petition presented by Transmile Group Berhad (TGB) and Transmile Air Services Sdn Bhd (TAS) seeking the sanction of this court for the schemes of arrangement between each of them and their respective scheme creditors pursuant to s 176(3) of the Companies Act 1965 . Section 176 (3) provides as follows:

"(3) If a majority in number representing three-fourths in value of the creditors or class of creditors or members or class of members present and voting either in person or by proxy at the meeting or the adjourned meeting agrees to any compromise or arrangement the compromise or arrangement shall if approved by order of the court be binding on all the creditors or class of creditors or on the members or class of members (as the case may be) and also on the company, or in the case of a company in the course of being wound up, on th