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2016 (3) TMI 1382 - HC - Companies LawApart from unsecured creditors of transferor company no.2, meetings of all classes of persons / entities were dispensed with - The learned counsel for the petitioners further states that in so far as the meeting of the unsecured creditors of transfer company no.2 is concerned, the report of the Chairperson would show that 77.48% (in value) of the total unsecured creditors attended the meeting and cast their votes in favour of the proposed scheme. HELD THAT - Ms. Mudiam, who appears for the Regional Director and Mr. Rajpal Singh, who appears for the Official Liquidator says that they have no objection to the scheme being sanctioned.
The Delhi High Court judgment in 2016 (3) TMI 1382 stated that meetings of all classes of entities were dispensed with, except for unsecured creditors of transferor company no.2. 77.48% of total unsecured creditors attended the meeting and voted in favor of the proposed scheme. Regional Director and Official Liquidator had no objection to sanctioning the scheme.
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