https://www.taxtmi.com/caselaws?id=260086 In a proposed amalgamation involving a holding company and its wholly owned subsidiary, the court noted that the transferor company's equity shareholders and unsecured creditors had given written consent and that there were no secured creditors. Because no shares were to be issued in consideration, no change in control or management would arise, and neither shareholders' rights nor creditors' interests would be prejudiced. On that basis, the meetings of the transferor company's equity shareholders and unsecured creditors were dispensed with, and the transferee company was exempted from approaching the jurisdictional High Court for separate sanction proceedings. en-us Tue, 05 May 2015 00:00:00 +0530 Thu, 28 May 2015 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260086 In a proposed amalgamation involving a holding company and its wholly owned subsidiary, the court noted that the transferor company's equity shareholders and unsecured creditors had given written consent and that there were no secured creditors. Because no shares were to be issued in consideration, no change in control or management would arise, and neither shareholders' rights nor creditors' interests would be prejudiced. On that basis, the meetings of the transferor company's equity shareholders and unsecured creditors were dispensed with, and the transferee company was exempted from approaching the jurisdictional High Court for separate sanction proceedings. Case-Laws Companies Law Tue, 05 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260086