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2016 (4) TMI 1442 - GUJARAT HIGH COURTScheme of Amalgamation proposed - prayer for dispensation of the meetings of the Equity Shareholders and Creditors of the Applicant Company - HELD THAT:- The attention of the Court is drawn to paragraph11 of the Affidavit in support of the Judges Summons. It has been contended that the rights and interests of the Creditors of the Transferee Company shall not be prejudicially affected as a result of the Scheme. A certificate of the Chartered Accountant confirms the Net Worth of the Transferee Company to be substantially positive viz. Rs.2.59 Crores in the PreScheme and Rs.13.71 Crores in the PostScheme scenario. The said certificate is also placed on record as Exhibit‘F’. In view of the same, dispensation is sought from convening the meetings of the Creditors of the Applicant Company. Considering the facts and circumstances and the submissions advanced, the same is, hereby, granted - Application disposed off.
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