Start Gratis sexchat itali austria

Gratis sexchat itali austria

WHEN COURT CAN PROCEED TO GIVE EFFECT TO SCHEME The court held that the amalgamation scheme has been approved by the majority of the shareholders of both the companies, the exchange ratio has been fixed by a reputed firm of Chartered Accountants and accepted by the share holders, the statutory formalities have been complied with, the scheme is fair and reasonable and there is no fraud involved, then the court would proceed to give effect to the decision of the majority of the share holders of the company. The Mo A of the company contains power to amalgamate. The affidavit is signed and sworn in prescribed manner by the deponent under Code of Civil Procedure, 1908. Send a copy of application made to the court to the concerned Regional Director, Department of Company Affairs (section 394A). The High Court should give the directions in respect of the matter set out in Rule 69 of Companies Court Rules, with respect to meeting including fixation of time, place and quorum of such meeting, appointment of chairman, etc. Notice of general meeting should be sent to members setting forth the terms of compromise or arrangement and their effect, interest of directors, managing director or manager of the company and effect of those interested on the amalgamation. 36 of Companies Court Rule] shall be sent to the members at least 21 clear days before meeting [ Rule 74 of Companies Court Rules ]. Where notice is sent by an advertisement , he same should be in the form no.

PROCEEDINGS It includes both civil and criminal proceedings.

Where directors are sought to be proceeded against criminally for their act as director by the creditor pending the consideration of a scheme of arrangement, the criminal proceeding can be stayed for the limited purpose so that the directors are not pressurized by the creditors and the scheme can be considered effectively.

If the creditor wrongfully refuses to agree on the scheme, the Court cannot sanction the scheme or probe into the mala fide refusal of creditors to refuse the approval of the scheme.

MRTP Companies- Amalgamation Where two companies are carrying on the same business, there was no need to file application under section 23 of MRTP Act for amalgamation thereof, although both companies are registered under MRTP Act and requirements under section 23(3) of MRTP Act is fulfilled.

All modes of reorganizing the share capital, takeover of shares of one company by another including interference with preferential and other special rights attached to shares can properly form part of an arrangement with members.

POWER TO COMPROMISE OR TO MAKE ARRANGEMENTS WITH THE CREDITORS AND MEMBERS.

CHAIRMAN’S REPORT After approval of scheme by creditors or members, the Chairman is required to file his report within seven days of conclusion of meeting.

Thereafter, within seven days of filing the report, the applicant shall present a petition to the court for confirmation of compromise or arrangement.

Where application section 391(1) is considered, The Calcutta High Court has held that no notice to Central Government is necessary.

However, Allahabad High Court has held that in such a matter both the Central Government and the Shareholders of the company is entitled to be heard before any decision is made under this section.

Amalgamations and Mergers under Companies Act 1956 In general, amalgamation is the process of combining or uniting multiple entities into one form.