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2015 (8) TMI 138 - HC - Companies LawScheme of Amalgamation and Arrangement - Dispensing convening of meetings of equity shareholders and unsecured creditors to consider and approve, proposed Scheme of Amalgamation under Sections 391 to 394A of Companies Act, 1956 read with Rule 9 of Companies (Court) Rules, 1959 – Held that:- board of directors of transferor and transferee companies in their separate meetings unanimously approved proposed Scheme of Amalgamation – 87 out of 92 equity shareholders of transferor company, being 98.95% in value and 324 out of 406 equity shareholders of transferee company, being 99.56% in value, have given their consents/no objections in writing to said proposed Scheme – Direction issued upon Transferee company having 6200 unsecured creditors to hold meeting to seek their approval to proposed Scheme – Application stands allowed – Decided in favour of applicants.
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