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2014 (3) TMI 1105 - DELHI HIGH COURTScheme of Amalgamation - dispensation of meetings - Held that:- There are Shareholders in both the Transferor and Transferee Companies and all the Shareholders have given their consents for the proposed amalgamation and the letter of consents have been attached with the application. In view of the same the meetings of the Shareholders of the Transferor and Transferee Companies are dispensed with. As stated that there are two Secured Creditors with three loan accounts in the Transferor Company and three Secured Creditors with six loan accounts in the Transferee Company. All the Secured Creditors have given their respective consents. In view of the same the meetings of the Secured Creditors of the Transferor Company and Transferee Company are dispensed with. There are thirteen Unsecured Creditors in Transferor Company and two Unsecured Creditors in the Transferee Company. Out of thirteen Unsecured Creditors of Transferor Company twelve have given their respective consents which constitute 90% in number and 99.79% in value. All the Unsecured Creditors of the transferee company have given their respective consents. In view of the same the meetings of the Unsecured Creditors of the Transferor Company and Transferee Company are dispensed with.
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