Ch. Mohd Sharief Tariq, Member - (1.) Representative for the Applicant present and prayed for order to dispense with the meeting of the equity shareholders and the secured and unsecured creditors of the applicant Company.
(2.) In relation to the Transferor Company, there are 4 equity shareholders, who have given the consent affidavits placed at page Nos.172 to 179. There are 2 equity shareholders in the Transferee Company. They have also given consent affidavits placed at page Nos.181 to 184. The requirement of law is fulfilled. The meetings of the equity shareholders are dispensed with in relation to both the Applicant Companies.
(3.) There is 1 secured and 29 unsecured creditors in relation to the Transferor Company. The creditors given the consent affidavit which are placed on record. The creditors who have given consent affidavits constitute 98% of the total credit.;