https://www.taxtmi.com/caselaws?id=438622 The Companies Act framework permits dispensation of a creditors' meeting in compromise and amalgamation proceedings where creditors representing at least ninety per cent in value consent by affidavit; on the stated facts, the sole unsecured creditor had already consented, so the meeting should have been dispensed with. The governing provisions and rules also allow voting in person or through proxy, and a direction limiting creditor voting to personal attendance was inconsistent with the prescribed procedure. The impugned order was therefore set aside and the matter remitted for reconsideration in accordance with law. en-us Fri, 02 Jun 2023 00:00:00 +0530 Mon, 05 Jun 2023 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438622 The Companies Act framework permits dispensation of a creditors' meeting in compromise and amalgamation proceedings where creditors representing at least ninety per cent in value consent by affidavit; on the stated facts, the sole unsecured creditor had already consented, so the meeting should have been dispensed with. The governing provisions and rules also allow voting in person or through proxy, and a direction limiting creditor voting to personal attendance was inconsistent with the prescribed procedure. The impugned order was therefore set aside and the matter remitted for reconsideration in accordance with law. Case-Laws Companies Law Fri, 02 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438622