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2015 (8) TMI 137 - DELHI HIGH COURTScheme of Arrangement - Dispensing convening of meetings of equity shareholders and unsecured creditors to consider and approve, proposed Scheme of Amalgamation under Section 391 of Companies Act, 1956 read with Rule 9 of Companies (Court) Rules, 1959 – Held that:- board of directors of transferor and transferee companies in their separate meetings unanimously approved proposed Scheme of Amalgamation – Equity and preference shareholders and secured creditor of transferor company and transferee company have given their consents/no objections in writing to proposed Scheme of Arrangement and were found to be in order – Direction issued upon Transferor company having 03 unsecured and Transferee company having 04 secured and 04 unsecured creditors to hold meeting to seek their approval to proposed Scheme – Application stands allowed – Decided in favour of applicants.
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