ADMINISTRATOR OF S.U.,U.T.I. vs GARWARE POLYSTER LTD.

The Supreme Court addressed the restructuring of debts under the Companies Act, 1956, emphasizing that a company can seek financial assistance from debenture holders for long-term capital requirements. The Court held that the restructuring package, which included repayment terms and waivers of penal interest, was valid and enforceable despite dissent from some debenture holders. The judgment reinforced the principle that majority consent among debenture holders can bind minority dissenters in financial restructuring agreements.