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2022 (11) TMI 508 - Tri - Companies LawComposite scheme of merger - Seeking for dispensation of the meeting of shareholders and creditors of both the applicant companies - Section 230-232 of the Companies Act, 2013 - HELD THAT:- There is no secured creditor in the applicant transferor company as per the CA certificate and the only creditor of the applicant transferee company is the holding company of the applicant transferee company. Further, consent affidavits from shareholders of both the applicant companies are received and the same is placed on record. As a result, no meetings of secured/unsecured creditors of both the applicant companies is required to be convened. Further, the meetings of the shareholders of both the applicant companies are dispensed with considering the consent affidavit furnished by the applicant companies. Application allowed.
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