Assessment of compensation: Joint Director authorised to determine payouts to members and creditors on company amalgamation. The rule designates the Joint Director in the Ministry of Corporate Affairs as the authority to assess compensation payable to members or creditors, ... Summary
Assessment of compensation: Joint Director authorised to determine payouts to members and creditors on company amalgamation.
The rule designates the Joint Director in the Ministry of Corporate Affairs as the authority to assess compensation payable to members or creditors, including debenture-holders, of companies amalgamating under the applicable amalgamation provision; it centralises the assessment function and was inserted by amendment and later updated by notification.
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