https://www.taxtmi.com/caselaws?id=99084 In an amalgamation where the transferee takes the entire undertaking and shareholder composition or voting rights are affected, the HC held that both companies must be properly before the Court and the transferee-company must hold the statutory shareholders' meeting under section 391(1). The court reasoned that section 394(1) empowers directions affecting the transferee and that the Companies (Court) Rules governing meetings and approvals apply equally to the transferee; affidavits of consent by shareholders did not substitute for the statutory meeting, and the petition could not be finally sanctioned until that requirement was complied with. en-us Tue, 11 Apr 1972 00:00:00 +0530 Wed, 25 Jan 2012 11:15:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99084 In an amalgamation where the transferee takes the entire undertaking and shareholder composition or voting rights are affected, the HC held that both companies must be properly before the Court and the transferee-company must hold the statutory shareholders' meeting under section 391(1). The court reasoned that section 394(1) empowers directions affecting the transferee and that the Companies (Court) Rules governing meetings and approvals apply equally to the transferee; affidavits of consent by shareholders did not substitute for the statutory meeting, and the petition could not be finally sanctioned until that requirement was complied with. Case-Laws Companies Law Tue, 11 Apr 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99084