TMI BlogProvisions for facilitating reconstruction and amalgamation of companies.X X X X Extracts X X X X X X X X Extracts X X X X ..... ) that under the scheme the whole or any part of the undertaking, property or liabilities of any company concerned in the scheme (in this section referred to as a "transferor company") is to be transferred to another company (in this section referred to as the "transferee company"); the [3] [Tribunal] may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters: (i) the transfer to the transferee company of the whole or any part of the undertaking, property or liabilities of any transferor company; (ii) the allotment or appropriation by the transferee company of any shares, debentures, policies, or other like interests in that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have not been conducted in a manner prejudicial to the interests of its members or to public interest.] (2) Where an order under this section provides for the transfer of any property or liabilities, then, by virtue of the order, that property shall be transferred to and vest in, and those liabilities shall be transferred to and become the liabilities of, the transferee company; and in the case of any property, if the order so directs, freed from any charge which is, by virtue of the compromise or arrangement, to cease to have effect. (3) Within [11] [thirty] days after the making of an order under this section, every company in relation to which the order is made shall cause a certified copy thereof to be filed with the Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The words "the Company Law Board or" omitted by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [9] Substituted for "Court" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [10] Substituted for "Court" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [11] Substituted by Act 31 of 1965, section 62 and Schedule, for "fourteen" w.e.f. 15-10-1965. [12] Substituted for "fifty rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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