https://www.taxtmi.com/caselaws?id=412140 Consent affidavits from all equity shareholders and secured creditors, together with substantial consent from unsecured creditors, were treated as sufficient to satisfy the statutory preconditions for convening separate meetings in a proposed amalgamation. The boards had approved the scheme, audited financial statements were placed on record, and the statutory auditors certified compliance with accounting standards under the Companies Act, 2013. On that basis, the NCLT dispensed with the meetings of the equity shareholders, secured creditors and unsecured creditors of the transferor and transferee companies, and allowed the application so the amalgamation could proceed at the application stage. en-us Wed, 04 Aug 2021 00:00:00 +0530 Sat, 11 Sep 2021 09:55:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412140 Consent affidavits from all equity shareholders and secured creditors, together with substantial consent from unsecured creditors, were treated as sufficient to satisfy the statutory preconditions for convening separate meetings in a proposed amalgamation. The boards had approved the scheme, audited financial statements were placed on record, and the statutory auditors certified compliance with accounting standards under the Companies Act, 2013. On that basis, the NCLT dispensed with the meetings of the equity shareholders, secured creditors and unsecured creditors of the transferor and transferee companies, and allowed the application so the amalgamation could proceed at the application stage. Case-Laws Companies Law Wed, 04 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412140