https://www.taxtmi.com/caselaws?id=399523 Where equity shareholders and identified creditors had given written consent, or no such creditor class existed, the Tribunal dispensed with their meetings for consideration of the proposed scheme of arrangement. The applicant companies supported the scheme with board approvals, valuation reports, financial statements and regulatory clearances, and the record showed consent from the sole secured creditor of one demerged company, with no secured or unsecured creditors in the relevant resulting and demerged entities. As the transferee company had substantial secured and unsecured creditors, their meetings were directed to be convened with notices, advertisement, quorum, proxy, voting, chairmanship, scrutiny, statutory intimation and reporting requirements under the Companies Act, 2013 and the 2016 Rules. en-us Tue, 26 May 2020 00:00:00 +0530 Tue, 13 Oct 2020 12:57:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399523 Where equity shareholders and identified creditors had given written consent, or no such creditor class existed, the Tribunal dispensed with their meetings for consideration of the proposed scheme of arrangement. The applicant companies supported the scheme with board approvals, valuation reports, financial statements and regulatory clearances, and the record showed consent from the sole secured creditor of one demerged company, with no secured or unsecured creditors in the relevant resulting and demerged entities. As the transferee company had substantial secured and unsecured creditors, their meetings were directed to be convened with notices, advertisement, quorum, proxy, voting, chairmanship, scrutiny, statutory intimation and reporting requirements under the Companies Act, 2013 and the 2016 Rules. Case-Laws Companies Law Tue, 26 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399523