https://www.taxtmi.com/caselaws?id=462547 A composite demerger scheme was approved for procedural progression under the Companies Act, 2013 and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Tribunal noted board approval, supporting valuation and fairness materials, and regulatory observations, then directed convening of the demerging company's equity shareholders' and unsecured creditors' meetings. It dispensed with the secured creditors' meeting on the basis of full consent, and dispensed with the resulting company's equity shareholders' meeting because consent was unanimous. It also treated the absence of secured and unsecured creditors in the resulting company as removing the need for creditor meetings, and issued consequential directions on notice, publication, e-voting, chairperson, scrutiniser, quorum and service on statutory authorities. en-us Mon, 27 Jun 2022 00:00:00 +0530 Mon, 30 Jun 2025 20:19:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462547 A composite demerger scheme was approved for procedural progression under the Companies Act, 2013 and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Tribunal noted board approval, supporting valuation and fairness materials, and regulatory observations, then directed convening of the demerging company's equity shareholders' and unsecured creditors' meetings. It dispensed with the secured creditors' meeting on the basis of full consent, and dispensed with the resulting company's equity shareholders' meeting because consent was unanimous. It also treated the absence of secured and unsecured creditors in the resulting company as removing the need for creditor meetings, and issued consequential directions on notice, publication, e-voting, chairperson, scrutiniser, quorum and service on statutory authorities. Case-Laws Companies Law Mon, 27 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462547