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2016 (9) TMI 1403 - DELHI HIGH COURTScheme of Amalgamation - Held that:- Transferor company no.2 has 2 equity shareholders. Both the equity shareholders have given their consents/no objections in writing to the proposed Scheme. Their consents/ no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the equity shareholders of Transferor company no.2 to consider and, if thought fit, approve, with or without modification, the proposed Scheme is dispensed with. Transferor company no.3 has one unsecured creditor who has given its consent/no objection in writing to the proposed Scheme. The consent/ no objection has been placed on record. It has been examined and found in order. In view thereof, the requirement of convening the meeting of the unsecured creditors of the Transferor company no.3 to consider and, if thought fit, approve, with or without modification, the proposed Scheme is dispensed with. That the Transferee Company has 27 equity shareholders. All the equity shareholders have given their consents/no objections in writing to the proposed Scheme. Their consents/ no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the equity shareholders of the Transferee Company to consider and, if thought fit, approve, with or without modification, the proposed Scheme is dispensed with. The Transferee Company has 14 secured creditors. All the secured creditors have given their consents/no objections in writing to the proposed Scheme. Their consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the secured creditors of the Transferee Company to consider and, if thought fit, approve, with or without modification, the proposed Scheme is dispensed with. The Transferee Company has 10 unsecured creditors. All the unsecured creditors have given their consents/no objections in writing to the proposed Scheme. Their consents/ no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the unsecured creditors of the Transferee Company to consider and, if thought fit, approve, with or without modification, the proposed Scheme is dispensed with.
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