https://www.taxtmi.com/caselaws?id=196104 Where a scheme of arrangement and related capital restructuring do not appear to prejudice unsecured creditors, the meeting of unsecured creditors may be dispensed with on the basis of supporting affidavits and financial material. Where the proposed reduction of share capital is treated as integral to the scheme and does not involve diminution of liability in respect of unpaid share capital or payment out of paid-up capital, the procedural requirements for reduction may also be dispensed with. The Court may then direct separate meetings of equity shareholders, preference shareholders and secured creditors, together with notice, publication, quorum, proxy and reporting arrangements for consideration of the scheme. en-us Wed, 01 Jul 2015 00:00:00 +0530 Sun, 19 Nov 2017 06:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196104 Where a scheme of arrangement and related capital restructuring do not appear to prejudice unsecured creditors, the meeting of unsecured creditors may be dispensed with on the basis of supporting affidavits and financial material. Where the proposed reduction of share capital is treated as integral to the scheme and does not involve diminution of liability in respect of unpaid share capital or payment out of paid-up capital, the procedural requirements for reduction may also be dispensed with. The Court may then direct separate meetings of equity shareholders, preference shareholders and secured creditors, together with notice, publication, quorum, proxy and reporting arrangements for consideration of the scheme. Case-Laws Companies Law Wed, 01 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196104