In the Scheme of Arrangement, the definition of principal and creditor is not clear. I think we may be in for a surprise after voting "YES".
I think the "Scheme of Arrangement" defines "Principal" as the amount of money deposited dehors the preferential shares. "Dehors" is a legal term meaning "outside of". So per the "Scheme of Arrangement" it appears the "Principal" is defined as(Deposit - Value of Preference shares).
So this is not really what most people might be thinking of as Principal.
As an example: for those who deposited 1.3 Lakhs and hold preference shares worth 70K, the Principal is only 60K(= 130K - 70K). In fact, even legally this is the unsecured debt. As long as they have returned the 60K with interest, they are meeting the commitments of this "Scheme of Arrangement".
The preference shares continue to remain valid. However, legally when a company is liquidated, whatever remains after paying the creditors is distributed among preference share holders and then equity share holders.
In this case, after paying the "Principals" to the "Creditors", there might be nothing left for the preference shares. In other words, we may not be getting what we think is Principal.
Those at the meeting, please ensure you get this fine point clarified.