https://www.taxtmi.com/caselaws?id=111032 The court granted the application under sections 391(1) and 393 of the Companies Act, 1956, dispensing with meetings of equity shareholders and unsecured creditors of the transferor and transferee companies for the approval of a scheme of arrangement. The scheme involved demerging the Textile Division of the transferor company into the transferee company. The Board of Directors of both companies unanimously approved the scheme, and necessary consents were obtained. Separate meetings of preference shareholders and secured creditors of the transferor company were to be convened. The court provided detailed directions on advertisement, notice requirements, appointment of Chairman, proxy voting, valuation, and reporting of meeting results, ultimately disposing of the application. en-us Thu, 17 Nov 2005 00:00:00 +0530 Thu, 19 Apr 2012 18:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111032 The court granted the application under sections 391(1) and 393 of the Companies Act, 1956, dispensing with meetings of equity shareholders and unsecured creditors of the transferor and transferee companies for the approval of a scheme of arrangement. The scheme involved demerging the Textile Division of the transferor company into the transferee company. The Board of Directors of both companies unanimously approved the scheme, and necessary consents were obtained. Separate meetings of preference shareholders and secured creditors of the transferor company were to be convened. The court provided detailed directions on advertisement, notice requirements, appointment of Chairman, proxy voting, valuation, and reporting of meeting results, ultimately disposing of the application. Case-Laws Companies Law Thu, 17 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111032