https://www.taxtmi.com/caselaws?id=458207 The HC determined that the scheme of amalgamation adequately protects creditors' rights, both secured and unsecured. The objections by the unsecured creditor were deemed lacking in substantial merit. Consequently, the HC exercised its discretion to waive the convening of meetings for shareholders and creditors, allowing the petitioner to proceed with a second motion. The objector retains the right to raise further objections during the second motion stage. The court concluded that the interests of creditors would be suitably protected under the scheme, permitting claims against both the transferor and transferee companies. en-us Tue, 29 Jul 2008 00:00:00 +0530 Tue, 15 Oct 2024 12:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458207 The HC determined that the scheme of amalgamation adequately protects creditors' rights, both secured and unsecured. The objections by the unsecured creditor were deemed lacking in substantial merit. Consequently, the HC exercised its discretion to waive the convening of meetings for shareholders and creditors, allowing the petitioner to proceed with a second motion. The objector retains the right to raise further objections during the second motion stage. The court concluded that the interests of creditors would be suitably protected under the scheme, permitting claims against both the transferor and transferee companies. Case-Laws Companies Law Tue, 29 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458207