https://www.taxtmi.com/caselaws?id=406375 In an amalgamation of a holding company with its wholly owned subsidiary, meetings of the transferee company's equity shareholders, secured creditors and unsecured creditors may be dispensed with where no new shares are issued, no share-capital reorganisation or dilution occurs, and creditors' rights are not prejudiced. Transfer of the subsidiary's liabilities to a financially positive transferee company did not, on the stated facts, warrant creditor meetings. Comparable coordinate-bench decisions supported the same approach, making refusal of dispensation unsustainable. en-us Tue, 06 Apr 2021 00:00:00 +0530 Tue, 16 Nov 2021 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406375 In an amalgamation of a holding company with its wholly owned subsidiary, meetings of the transferee company's equity shareholders, secured creditors and unsecured creditors may be dispensed with where no new shares are issued, no share-capital reorganisation or dilution occurs, and creditors' rights are not prejudiced. Transfer of the subsidiary's liabilities to a financially positive transferee company did not, on the stated facts, warrant creditor meetings. Comparable coordinate-bench decisions supported the same approach, making refusal of dispensation unsustainable. Case-Laws Insolvency and Bankruptcy Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406375