https://www.taxtmi.com/caselaws?id=194410 The Court, after considering submissions and precedents, dispensed with the requirement of convening meetings of equity shareholders and unsecured creditors for a Scheme of Amalgamation between two companies. All Equity Shareholders provided written consent, and the Board of Directors approved the scheme. The Court found no compromise to creditors and noted an excess of assets over liabilities for both companies. Consequently, the Court disposed of the application in terms of dispensing with the meeting of unsecured creditors, including customers of Prepaid Payment Instruments. en-us Mon, 03 Oct 2016 00:00:00 +0530 Thu, 30 Nov 2017 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194410 The Court, after considering submissions and precedents, dispensed with the requirement of convening meetings of equity shareholders and unsecured creditors for a Scheme of Amalgamation between two companies. All Equity Shareholders provided written consent, and the Board of Directors approved the scheme. The Court found no compromise to creditors and noted an excess of assets over liabilities for both companies. Consequently, the Court disposed of the application in terms of dispensing with the meeting of unsecured creditors, including customers of Prepaid Payment Instruments. Case-Laws Companies Law Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194410