Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2008 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (5) TMI 424 - HC - Companies LawAmalgamation - Compromise and arrangement - Held that:- There does not appear to be any legal impediment in sanctioning the proposed scheme of amalgamation. Consequently, sanction is hereby granted to the proposed scheme of amalgamation under sections 391 and 394 of the Companies Act, 1956, for amalgamation of the transferor company with the transferee company subject to the transferee company's filing the necessary forms as prescribed under law in the ogee of the Registrar of Companies to place on record the change in its name. The certified copy of this order shall be filed with the Registrar of Companies within five weeks. It is clarified that this order should not be construed as an order granting exemption from payment of stamp duty if payable in accordance with law in regard to increase in the share capital of the transferee company. Upon sanction becoming effective and from the appointed date, the transferor company shall stands dissolved without its formal winding up. The transferee company is directed to deposit ₹ 20,000 towards costs in the common pool fund of the official liquidator within a period of three weeks from today.
|