https://www.taxtmi.com/caselaws?id=416297 In a proposed amalgamation, the tribunal accepted dispensation of meetings of equity shareholders and secured creditors because consent affidavits satisfied the statutory majority threshold, including unanimous shareholder consent in one company and over 90% secured creditor value approval in both. However, it declined to dispense with the unsecured creditors' meetings because no consent affidavits were produced for them and their liabilities remained substantial. The scheme therefore could proceed only with meetings of unsecured creditors being convened, while the other stakeholder meetings were validly dispensed with. en-us Fri, 03 Dec 2021 00:00:00 +0530 Sat, 25 Dec 2021 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416297 In a proposed amalgamation, the tribunal accepted dispensation of meetings of equity shareholders and secured creditors because consent affidavits satisfied the statutory majority threshold, including unanimous shareholder consent in one company and over 90% secured creditor value approval in both. However, it declined to dispense with the unsecured creditors' meetings because no consent affidavits were produced for them and their liabilities remained substantial. The scheme therefore could proceed only with meetings of unsecured creditors being convened, while the other stakeholder meetings were validly dispensed with. Case-Laws Companies Law Fri, 03 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416297