Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2020 (9) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (9) TMI 1038 - Tri - Companies LawMaintainability of Joint Application - Sanction of Scheme of Amalgamation - Sections 230 to 232 of the Companies Act, 2013 - HELD THAT:- As per clause 8 of the Scheme, all legal proceedings of whatsoever nature by or against Transferor Companies pending and/or arising at the Appointed Date and relating to Transferor Companies or its properties, assets, debts, liabilities, duties and obligations, shall be continued and/or enforced until the Effective Date as desired by the Transferee Company and as and from the Effective Date shall be continued and enforced by or against the Transferee Company in the same manner and to the same extent as would or might have been continued and enforced by or against Transferor Companies. On and from the Effective Date, the Transferee Company may, if required, initiate any legal proceedings in its name in relation to Transferor Companies in the same manner and to the same extent as would or might have been initiated by Transferor Companies. Directions are issued with respect to calling, convening and holding of meetings of the Shareholders, Secured Creditors and Unsecured Creditors or dispensing with the same as well as issue of notices including by way of paper publication - Application disposed off.
|