https://www.taxtmi.com/caselaws?id=409196 In a proposed amalgamation under the Companies Act, 2013, the NCLT considered whether meetings of equity shareholders and creditors could be dispensed with on the basis of written consents and the absence of secured creditors. The application was supported by board approvals, the merger scheme, valuation material, financial statements, and certificates on shareholding and creditor positions. Equity shareholders gave affidavits consenting to the scheme and waiver of meetings. Where applicant companies had no secured creditors, meetings were unnecessary; where there were no unsecured creditors, no meeting was required, and for remaining unsecured creditors, written consents on affidavit were produced. Compliance with notice requirements under section 230(5) and Rule 8 was also directed. en-us Tue, 15 Jun 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:57:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409196 In a proposed amalgamation under the Companies Act, 2013, the NCLT considered whether meetings of equity shareholders and creditors could be dispensed with on the basis of written consents and the absence of secured creditors. The application was supported by board approvals, the merger scheme, valuation material, financial statements, and certificates on shareholding and creditor positions. Equity shareholders gave affidavits consenting to the scheme and waiver of meetings. Where applicant companies had no secured creditors, meetings were unnecessary; where there were no unsecured creditors, no meeting was required, and for remaining unsecured creditors, written consents on affidavit were produced. Compliance with notice requirements under section 230(5) and Rule 8 was also directed. Case-Laws Companies Law Tue, 15 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409196