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2012 (11) TMI 207 - DELHI HIGH COURTScheme of Arrangement - Held that:- As there are nil secured creditors of the Transferee Company, therefore, the requirement of convening the meeting of secured creditors does not arise. As only six unsecured creditors representing 26.33% of the total unsecured debt have given the Board Resolutions along with the said consents. Consequently the meeting of the unsecured creditors of the Transferee Company be held on December 07, 2012 at 10:30 AM at India Habitat Centre, Lodhi Road, New Delhi as headed by the appointed Chairperson & Alternate Chairperson - if the Quorum is not present in the meetings, the meetings would be adjourned for 30 minutes and thereafter, the persons present in the meetings would be treated as proper quorum & for the purpose of computing the quorum the valid proxies shall also be considered. Both the Companies will publish advance notice of the aforesaid proposed meetings in “Business Standard” (English Delhi Edition) and “Dainik Bhaskar” (Hindi Delhi Edition) minimum 21 days in advance before the Scheduled date of meeting & Individual notice too to be sent by ordinary post minimum 21 days in advance - The Chairpersons/Alternate Chairpersons shall file their reports within two weeks of the conclusion of the respective meetings.
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