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Board resolution for demerger under companies act 2013

board resolution for demerger under companies act 2013

and Section 52 of the Companies Act, and other applicable the draft of the Scheme providing for demerger of Retail Undertaking of M/s. Report adopted by the Board of Directors of Arvind Limited in its meeting held on 8th Act, , at the meeting of the secured creditors of the Applicant Company‚Äč. Scheme of Arrangement, inter alia, in the nature of demerger of Branded. approve under the relevant provisions of the Companies Act, RESOLVED FURTHER THAT for the purpose of amalgamation of Saldhar into Apoctex.

: Board resolution for demerger under companies act 2013

BANK ACCOUNT NUMBER LENGTH WESTPAC 157
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STATE BANK OF INDIA KANDIVALI WEST BRANCH CODE The primary national authority dealing with corporate reorganisations is the NCLT. Under the Income Tax Actmergers and demergers receive tax-neutral treatment if they meet certain criteria. The Committee felt that it should be enough if the company complies with the filing requirement with the Registrar of Companies as is presently provided, to make the scheme effective. Further, the RBI has recently called on the government to strengthen the infrastructure and bench strength of the NCLT, and we may see the government commit resources to improving the infrastructure of the NCLT. The creditors consent may be necessary only in case of companies not meeting the board resolution for demerger under companies act 2013 test. For example, if the company proposes to issue shares on a preferential basis as a part of the reorganisation, the board resolution must be passed at a meeting of the board of directors, and a special resolution of the shareholders will be required. Demerger Under Voluntary Winding Up.
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The Concept Paper on Company Law contemplates that an order of the scheme of merger will be effective only if board resolution for demerger under companies act 2013 certified copy of the order of the Court is filed with the Registrar and duly registered. Merger of class of Companies If the Court directs give an advertisement of the notice meeting Form 38 Hold the Meeting and pass Resolutions approving the Scheme. Pass Accounting entries for sale of business undertaking in the books. All legal proceedings, by or against the Transferor to be binding on and enforceable against the Transferee. board resolution for demerger under companies act 2013

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