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In this example of amalgamation, Company ‘A’ and Company ‘B’ will surrender all their fairness shares (ownership shares) to the newly shaped Amalgamated Company ‘AB’. The belongings and liabilities of Amalgamating Companies ‘A’ and ‘B’ will be transferred to Company ‘AB’. The shareholders of the Company ‘A’ and Company ‘B’ might be given the shares of Company ‘AB’. The amalgamating firms ‘A’ and ‘B’ will lose their individual existence (id) and continue to function jointly beneath the title of Company ‘AB’.
Where an organization fails to register a charge within the requisite forty-two days, the application for extension of time is to be made to the registrar beneath section 111 (1) of the brand new Act, this is not like within the repealed Act … Read more