https://www.taxtmi.com/caselaws?id=275183 A meeting of secured creditors under a company scheme may be reconvened when it could not be held because no creditor attended and the failure was not attributable to the applicant companies. The Tribunal noted compliance with the earlier directions, accepted the chairperson's report, and relied on the scheme provisions, the Companies Act, 2013, the arrangement and amalgamation rules, and its inherent power under Rule 11 of the NCLT Rules, 2016. As no prejudice would be caused to stakeholders, a fresh meeting was permitted so the secured creditors could record their assent or dissent to the proposed scheme. en-us Mon, 18 Dec 2017 00:00:00 +0530 Fri, 21 Sep 2018 08:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275183 A meeting of secured creditors under a company scheme may be reconvened when it could not be held because no creditor attended and the failure was not attributable to the applicant companies. The Tribunal noted compliance with the earlier directions, accepted the chairperson's report, and relied on the scheme provisions, the Companies Act, 2013, the arrangement and amalgamation rules, and its inherent power under Rule 11 of the NCLT Rules, 2016. As no prejudice would be caused to stakeholders, a fresh meeting was permitted so the secured creditors could record their assent or dissent to the proposed scheme. Case-Laws Companies Law Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275183