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TMI Blog2016 (2) TMI 1122X X X X Extracts X X X X X X X X Extracts X X X X ..... ve given their consent. In so far as the unsecured creditors are concerned, in terms of value 91.76% have given their consent which, in numbers, works out to 51.97%.As regards, secured creditors of the transferee company, all have given their consent. Having regard to the aforesaid, the prayers made in the joint application are allowed. The requirement to convene meetings of equity shareholders and unsecured creditors of the transferor companies is dispensed with, since all consents are in place. Similarly, the prayer made for dispensing with the meetings of the equity shareholders, secured and unsecured creditors of the transferee company is allowed as well. The reason that I am dispensing with the meetings of the equity sharehold ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with regard to the consents obtained qua equity shareholders and the unsecured creditors of the transferor companies as averred is as follows :- Company No. of Shareholders Consent Given No. of Unsecured Creditors Consent Given Transferor Company No. 1 3 All 1 All Transferor Company No. 2 3 All 1 All Transferor Company No. 3 2 All 1 All Transferor Company No. 4 2 Al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. Having regard to the aforesaid, the prayers made in the joint application are allowed. The requirement to convene meetings of equity shareholders and unsecured creditors of the transferor companies is dispensed with, since all consents are in place. Similarly, the prayer made for dispensing with the meetings of the equity shareholders, secured and unsecured creditors of the transferee company is allowed as well. 10. The reason that I am dispensing with the meetings of the equity shareholders and the unsecured creditors of the transferee company, is that, in terms of value, those who have given their consent are more than 3/4th of the total value of the paid up equity share capital and the total amount outstanding qua the unsecured ..... X X X X Extracts X X X X X X X X Extracts X X X X
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