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(viii) The amalgamation will have beneficial results for both the companies concerned, their shareholders, employees, creditors and all concerned.

7. It was stated in the petition that pursuant to orders dated 10th February, 2004 passed in CA (M) No.14/2004, meeting of its secured/unsecured shareholders and equity shareholders were convened which had approved the proposed scheme without any modification. It was also stated that notices of the said meetings were sent individually to the equity shareholders of the transferee company together with copy of the scheme of arrangement as well as the statement required by Section 393 of the Act and form of proxy. The notices of the meetings were also advertised in the two newspapers, i.e., "The Statesman"