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2019 (8) TMI 390 - AT - Companies LawScheme of amalgamation - Convention of meeting of Equity shareholders - “non-filing” of the Consent Letters given by the shareholders by way of affidavit before the Tribunal - HELD THAT:- Further from the perusal of the Consent Letters of the Transferee Company, the shareholders have given their ‘no objection’ and consent for merger of the Transferor Companies with the Transferee Company - From the Consent Letters, it is un-equivocal that the equity shareholders of the Transferor and the Transferee Companies do not have any objection to the Scheme of Arrangement by way amalgamation of the Transferor Companies with the Transferee Company. The Tribunal had already dispensed with convening and holding meeting of secured and unsecured creditors taking into consideration the Consent Affidavits filed by them expressing their ‘no objection’ for amalgamation of Transferor Companies with the Transferee Company. The Appellant (Transferor and Transferee) Companies have complied with the requirements to consider and approve the Scheme of amalgamation and having satisfied with the documents filed by the Appellants, we dispense with the convening of meetings of the equity shareholders of the Transferor and Transferee Companies as directed by the Tribunal in the impugned order dated 07.06.2019. The impugned order of the Tribunal dated 07.06.2019 whereby it directed to the Transferor and Transferee Companies to convene and hold meeting of the equity shareholders is hereby set aside - appeal allowed.
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