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2015 (4) TMI 1212 - PUNJAB & HARYANA HIGH COURTScheme of Amalgamation and Arrangement - seeking dispensation of meetings of Shareholders and Secured Creditors of Transferor/Petitioner Company and holding of meeting of Un-Secured Creditors of the said Company - Held that:- This Court is of the view that for the reasons stated above, the meetings of the Equity Shareholders of the Transferor and Transferee Companies and Unsecured Creditors of the Transferee Company are ordered to be dispensed with. Since there is no Secured Creditor of the Transferor and Transferee Companies, no meeting is required. As no consent of the Unsecured Creditors of the Transferor Company is appended, I deem it appropriate to hold/convene their meeting as per the decided Schedule The meeting shall be conducted in accordance with law and after due notice to all concerned including public in the newspapers namely Indian Express(English) and Jansatta (Hindi) both Haryana Edition and in the official Gazette of Government of Haryana. Notice of the meeting shall be published at least 21 days before the date of the proposed meeting. Individual notice be also sent to the Unsecured Creditors of Petitioner-Transferor Company by speed post/registered post. The scheme put up in the meeting of the Unsecured Creditors shall be approved/decided by minimum 75% in value of the Unsecured Creditors present and voting either in person or through proxy.
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