https://www.taxtmi.com/caselaws?id=194648 The court granted dispensation from convening meetings of Equity Shareholders in a Composite Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, involving the transfer of the "Windmill Division" and amalgamation. Approval of Unsecured Creditors was deemed unnecessary as their rights were not prejudicially affected, given the profit-making status and positive net worth of the transferor company. The court emphasized the significance of obtaining requisite approvals and protecting creditors' interests in company law schemes. en-us Mon, 17 Oct 2016 00:00:00 +0530 Sun, 17 Sep 2017 19:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194648 The court granted dispensation from convening meetings of Equity Shareholders in a Composite Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956, involving the transfer of the "Windmill Division" and amalgamation. Approval of Unsecured Creditors was deemed unnecessary as their rights were not prejudicially affected, given the profit-making status and positive net worth of the transferor company. The court emphasized the significance of obtaining requisite approvals and protecting creditors' interests in company law schemes. Case-Laws Companies Law Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194648