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2021 (1) TMI 116 - Tri - Companies LawApproval of Amalgamation scheme - seeking to dispense with the convening and holding the meeting of the Shareholders, Sole Secured Creditor of the Transferor Company and Shareholders of the Transferee Company and to direct for convene the meeting of the Unsecured Creditors of the Transferor Company - Sections 230 to 232 of the Companies Act, 2013 R/ w Companies (CAA) Rules, 2016 - HELD THAT:- The Companies have followed extant provisions of Companies Act in framing the Scheme in question, which are duly approved by the Board of Directors of the Companies involved. The Statutory Auditors/ Chartered Accountants of the Company have also issued respective Certificates by inter-alia certifying that the details of shareholders, creditors, and compliance of accounting treatment as prescribed U/ s. 133 of the Companies Act, 2013 with reference to the Scheme in question. The Applicant Companies have disclosed all the material facts relating to the Scheme in question and filed necessary documents along with the Application. Therefore, we are convinced with the case made out by the Applicants so as to grant relief as sought for, by dispensing with meetings of the Shareholders and Sole Secured Creditors of Transferor Company and Shareholders of the Transferee Company , to convene and holding the meeting of the Unsecured Creditors of the Transferor Company by appointing the Chairperson and Scrutinizer for convening the meeting, fixing venue, time, quorum etc. It is hereby dispensed with the convening and holding the meetings of the Shareholders and Sole Secured Creditor of the Transferor Company and Shareholders of the Transferee Company - Application disposed off.
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