https://www.taxtmi.com/caselaws?id=194951 The Court granted the petition under section 391(1) of the Companies Act, 1956, allowing dispensation of convening meetings of shareholders and creditors and dispensing with filing the IInd Motion petition for the sanctioning of the Scheme of Amalgamation. The Transferee Company, a listed entity, demonstrated that the proposed scheme would not impact the rights of its members or creditors. As the Transferee Company was a wholly owned subsidiary of the Transferor Company, the Court found dispensing with the second motion petition appropriate. Meetings of Equity Shareholders and Creditors were dispensed with, and interested parties could seek further directions from the Court. en-us Fri, 22 Nov 2013 00:00:00 +0530 Sat, 07 Oct 2017 18:52:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194951 The Court granted the petition under section 391(1) of the Companies Act, 1956, allowing dispensation of convening meetings of shareholders and creditors and dispensing with filing the IInd Motion petition for the sanctioning of the Scheme of Amalgamation. The Transferee Company, a listed entity, demonstrated that the proposed scheme would not impact the rights of its members or creditors. As the Transferee Company was a wholly owned subsidiary of the Transferor Company, the Court found dispensing with the second motion petition appropriate. Meetings of Equity Shareholders and Creditors were dispensed with, and interested parties could seek further directions from the Court. Case-Laws Companies Law Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194951