https://www.taxtmi.com/caselaws?id=416201 The Tribunal allowed the appeal and set aside the NCLT's order concerning the dispensation of meetings for equity shareholders and creditors. It determined that when a merger involves a parent company and its wholly owned subsidiary, the meetings of equity shareholders, secured creditors, and unsecured creditors can be waived, as the rights of the equity shareholders of the transferee company remain unaffected. The Tribunal also concluded that obtaining 90% consent affidavits from unsecured creditors was unnecessary and acknowledged the validity of conducting meetings through electronic means as per MCA guidelines. en-us Wed, 22 Dec 2021 00:00:00 +0530 Thu, 23 Dec 2021 12:10:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416201 The Tribunal allowed the appeal and set aside the NCLT's order concerning the dispensation of meetings for equity shareholders and creditors. It determined that when a merger involves a parent company and its wholly owned subsidiary, the meetings of equity shareholders, secured creditors, and unsecured creditors can be waived, as the rights of the equity shareholders of the transferee company remain unaffected. The Tribunal also concluded that obtaining 90% consent affidavits from unsecured creditors was unnecessary and acknowledged the validity of conducting meetings through electronic means as per MCA guidelines. Case-Laws Law of Competition Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416201