https://www.taxtmi.com/caselaws?id=196625 In proceedings for approval of an amalgamation scheme, the equity shareholders' meeting of the transferee company was dispensed with because the transferor company was indirectly wholly owned by the transferee company, no shares of the transferee company were to be issued, and the transferor company's entire share capital would be cancelled. On that footing, the transferee company's capital structure would remain unchanged and its shareholders' rights would not be adversely affected. The Court further observed that convening a meeting in such circumstances would serve no useful purpose and would only cause delay and unnecessary expense; the meeting was therefore dispensed with, subject to the conditions in the order. en-us Thu, 28 Jul 2011 00:00:00 +0530 Sat, 09 Dec 2017 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196625 In proceedings for approval of an amalgamation scheme, the equity shareholders' meeting of the transferee company was dispensed with because the transferor company was indirectly wholly owned by the transferee company, no shares of the transferee company were to be issued, and the transferor company's entire share capital would be cancelled. On that footing, the transferee company's capital structure would remain unchanged and its shareholders' rights would not be adversely affected. The Court further observed that convening a meeting in such circumstances would serve no useful purpose and would only cause delay and unnecessary expense; the meeting was therefore dispensed with, subject to the conditions in the order. Case-Laws Companies Law Thu, 28 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196625