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2017 (1) TMI 908 - HC - Companies LawScheme of Amalgamation - convening of meetings - Held that:- The requirement of convening meetings of the equity and preference shareholders of the Transferor Company to consider and if thought fit, approve, with or without modification, the proposed scheme, is dispensed with. The Transferor Company has 02 unsecured creditors. 01 out of the two unsecured creditors has given its written consent/NOC to the proposed scheme. The second creditor is the Transferee Company. The said written consent/NOC has been placed on record and has been examined and found in order. In view thereof, the requirement of convening meeting of the unsecured creditors of the Transferor Company to consider and if thought fit, approve, with or without modification, the proposed scheme, is dispensed with. The Transferor Company does not have any secured creditors. Therefore, the question of convening the meeting of secured creditors of the Transferor Company does not arise.
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