https://www.taxtmi.com/caselaws?id=195531 Where all equity shareholders and unsecured creditors have furnished written consents, the court may dispense with convening their meetings for approval of a proposed scheme. The court also accepted that, where reduction of share capital is an integral part of the scheme and does not prejudice creditors or involve diminution of liability for unpaid share capital or payment to shareholders, the procedural requirements for capital reduction may be dispensed with. On that factual basis, the scheme was permitted to proceed with both the meeting requirement and the related reduction-of-capital procedure dispensed with. en-us Fri, 15 Jan 2016 00:00:00 +0530 Thu, 02 Nov 2017 17:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195531 Where all equity shareholders and unsecured creditors have furnished written consents, the court may dispense with convening their meetings for approval of a proposed scheme. The court also accepted that, where reduction of share capital is an integral part of the scheme and does not prejudice creditors or involve diminution of liability for unpaid share capital or payment to shareholders, the procedural requirements for capital reduction may be dispensed with. On that factual basis, the scheme was permitted to proceed with both the meeting requirement and the related reduction-of-capital procedure dispensed with. Case-Laws Companies Law Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195531