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2014 (6) TMI 814 - KARNATAKA HIGH COURTDispensation from convening meetings of equity shareholders, preference shareholders - Scheme of Amalgamation - Held that:- The Board of Directors, of the Transferee Company passed a resolution dated 20.12.2013 approving and adopting the Scheme of Amalgamation of Uniflair India Private Limited with Schneider Electric IT Business India Private Limited, subject to the sanction of this Court and that the assets of the Transferee Company are more than the liabilities and is stated to be financially sound. Hence, the amalgamation would not in any manner, affect the interests of the creditors of the Transferee Company - The convening of the meetings of the equity shareholders and preference shareholders of the Transferee Company are waived. The convening of the meeting of the equity shareholders of the Transferor Company is also waived. - Decided in favour of appellant.
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