https://www.taxtmi.com/caselaws?id=198680 Written consents of all equity shareholders and unsecured creditors may justify dispensing with meetings for a demerger scheme where the class composition is limited and no secured creditors exist. On those facts, convening meetings under the Companies Act, 1956 was treated as unnecessary. The proposed capital restructuring being integral to the composite scheme and not involving any diminution of liability in respect of unpaid share capital, the procedural requirements for reduction of capital were also dispensed with. en-us Thu, 26 Feb 2009 00:00:00 +0530 Wed, 07 Feb 2018 13:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198680 Written consents of all equity shareholders and unsecured creditors may justify dispensing with meetings for a demerger scheme where the class composition is limited and no secured creditors exist. On those facts, convening meetings under the Companies Act, 1956 was treated as unnecessary. The proposed capital restructuring being integral to the composite scheme and not involving any diminution of liability in respect of unpaid share capital, the procedural requirements for reduction of capital were also dispensed with. Case-Laws Companies Law Thu, 26 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198680