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2015 (8) TMI 334 - HC - Companies LawScheme of Arrangement - Dispensing convening meetings of equity and preference shareholders, secured and unsecured creditors to consider and approve, proposed Scheme of Amalgamation under Sections 391 Companies Act, 1956 – Held that:- board of directors of transferor companies no. 1, 2, 3, & 5 and transferee company in their separate meetings respectively unanimously approved proposed Scheme of Amalgamation – Equity shareholders, secured creditors and unsecured creditors of transferor company no. 1,2,3 &5 and transferor company have given their consents/no objections in writing to proposed Scheme of Amalgamation and were found in order – Direction issued to Transferee company having 6 secured and 9002 unsecured creditors, to hold their meeting to seek their approval to proposed Scheme of Amalgamation – Application stands allowed – Decided in favour of Applicants.
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