https://www.taxtmi.com/caselaws?id=299131 Written consents of the equity shareholders, preference shareholders and unsecured creditors justified dispensing with their meetings because the affected classes had unanimously approved the proposed scheme and there were no secured creditors. Where reduction of equity share capital formed an integral part of the scheme and did not involve diminution of liability for unpaid share capital or return of paid-up capital, the court treated the shareholders' written consents as the special resolution required and dispensed with the separate capital reduction procedure and related court rules. The application was allowed at the threshold on those procedural dispensations. en-us Wed, 24 Apr 2013 00:00:00 +0530 Sat, 04 Dec 2021 11:05:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299131 Written consents of the equity shareholders, preference shareholders and unsecured creditors justified dispensing with their meetings because the affected classes had unanimously approved the proposed scheme and there were no secured creditors. Where reduction of equity share capital formed an integral part of the scheme and did not involve diminution of liability for unpaid share capital or return of paid-up capital, the court treated the shareholders' written consents as the special resolution required and dispensed with the separate capital reduction procedure and related court rules. The application was allowed at the threshold on those procedural dispensations. Case-Laws Companies Law Wed, 24 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299131