Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2021 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (1) TMI 983 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHApproval of scheme of Amalgamation - seeking directions for convening meetings of equity shareholders and unsecured creditors of Transferor Company - seeking directions to dispense with the meeting of equity shareholders and to order convening meetings of Secured and unsecured creditors of Transferee Company - HELD THAT:- This is the first stage Application seeking convening meetings of Shareholders and Unsecured Creditors of Transferor Company and further requesting for dispensation of meeting of Shareholders and convening meetings of Secured and Unsecured Creditors of Transferee Company as all the shareholders have given their consent in the form of sworn Affidavits. The proposed scheme in question prima facie satisfy fundamental requirements for its sanction, subject to approval of this Tribunal. The Applicant Companies are stated to be following all provisions of Companies Act, 2013, and rules made thereunder. In any case, dispensing with meeting of shareholders of Transferee Company would not deprive any aggrieved party to approach this Tribunal at any point of time, when the approval of scheme in question finally comes for consideration. Therefore, the Joint Company application deserves to be allowed. Application allowed - various directions issued regarding holding and convening of various meetings and also directions regarding issuance of various notices, issued.
|