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2022 (11) TMI 1235 - AT - Companies LawApproval of scheme of Amalgamation - Section 230-232 of the Companies Act, 2013 - HELD THAT:- In view of the judgment in IN RE : MOHIT AGRO COMMODITIES PROCESSING PVT LTD., GUJARAT AMBUJA EXPORTS LTD. [2021 (6) TMI 1031 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI] this Tribunal held that we are of the considered view that when the ‘Transferor and Transferee Company’ involve a parent Company and a Wholly Owned Subsidiary the meeting of Equity Shareholders, Secured Creditors and Unsecured Creditors can be dispensed with as the facts of this case substantiate that the rights of the Equity Shareholders of the ‘Transferee Company’ are not being affected. The instant Appeal is allowed with modification of para 10 of the impugned order dated 17.02.2021 passed by the National Company Law Tribunal (Mumbai Bench-IV) to the extent that the secured creditor is hereby directed to raise objection, if any, to the Scheme within 30 days of the Notice of amalgamation before the NCLT failing which it shall be presumed that the said secured creditor has No Objection to the amalgamation.
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