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2021 (8) TMI 9 - NATIONAL COMPANY LAW TRIBUNAL , HYDERABAD BENCHApproval of scheme of amalgamation - Section 230-232 of the Companies Act, 2013 - HELD THAT:- Section 230(i) of Companies Act, 2013 contemplates holding of meeting unless 90% of the Creditors gave consent by way of Affidavits to dispense with meetings. In this case, the shareholders and unsecured creditors of the Transferor Company and secured creditors of the Transferee Company have given consent by. way of Affidavits to dispense with meetings Applicant Companies. Section 230(9) of Companies Act, 2013 provides that 90% of the Creditors to give consent for dispensing with convening of meeting. Therefore, the request of the 1st Applicant Company and 4th Applicant Company for conveying meeting unsecured creditors is considered. The meetings are to be convened and held in the manner mentioned below. Various directions regarding convening and dispensation of various meetings issued - various directions regarding issuance of notices also issued. The scheme is approved - application allowed.
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