TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Liquidator Can Distribute Shares in Voluntary Winding-Up Under Section 494, Companies Act 1956; Dissenters Can Demand Buyout</h1> Section 494 of the Companies Act, 1956, allows a liquidator to accept shares or similar interests from a transferee company as consideration for the sale of a transferor company's property during voluntary winding-up. With a special resolution, the liquidator can distribute these interests among the transferor company's members or arrange for them to participate in the transferee company's profits. Dissenting members can demand the liquidator either halt the resolution or buy their interest at an agreed or arbitrated price. The Arbitration Act, 1940, applies to disputes, and special resolutions require Tribunal sanction if winding-up occurs within a year.
TaxTMI 
TaxTMI 
