https://www.taxtmi.com/article/detailed?id=10918 Where creditors holding at least ninety percent in value execute affidavits consenting to a scheme of arrangement, the Adjudicating Authority may dispense with calling creditor meetings and with related notice requirements. In liquidation proceedings, if the sole financial creditor has affidavited approval of the scheme, the dispensation condition is satisfied and the procedural requirement to issue a second-motion notice or to convene creditor meetings may be unnecessary; the Adjudicating Authority should therefore consider dispensing with the second-motion notice in such circumstances. en-us Thu, 29 Dec 2022 10:39:16 +0530 Thu, 29 Dec 2022 10:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10918 Where creditors holding at least ninety percent in value execute affidavits consenting to a scheme of arrangement, the Adjudicating Authority may dispense with calling creditor meetings and with related notice requirements. In liquidation proceedings, if the sole financial creditor has affidavited approval of the scheme, the dispensation condition is satisfied and the procedural requirement to issue a second-motion notice or to convene creditor meetings may be unnecessary; the Adjudicating Authority should therefore consider dispensing with the second-motion notice in such circumstances. Articles Corporate Laws / IBC / SEBI Thu, 29 Dec 2022 10:39:16 +0530 https://www.taxtmi.com/article/detailed?id=10918