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2016 (1) TMI 1315 - HC - Companies LawScheme of amalgamation - dispensation of the requirement to convene meeting of its shareholders, secured and unsecured creditors - Held that:- A prayer has been made to dispense with the requirement of convening the meetings of the equity shareholders and the creditors (i.e. the secured and unsecured creditors) of the transferee company. The letters of consent submitted by the shareholders have been seen and examined. They are found in order. Similarly, letters of consent issued by the creditors (i.e. secured and unsecured) have been seen and are found in order. Given the fact that all shareholders and creditors (i.e. the secured and unsecured creditors) of the transferee company have given their consent and/or No Objection (NOC) to the proposed scheme, there shall be no requirement to convene the meetings, as prayed. The application stands allowed in the aforesaid terms.
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