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of <h1>Court Orders Company Transfer Under Section 394; Assets, Liabilities Move to New Entity, Shares Allocated to Non-Dissenting Members.</h1> The court order under section 394 of the Companies Act, 1956, mandates the transfer of all property, rights, powers, liabilities, and duties of the transferor company to the transferee company without further action. All pending proceedings involving the transferor company will continue with the transferee company. The transferee company must allocate shares to members of the transferor company who have not dissented. A certified copy of the order must be delivered to the Registrar of Companies within 14 days, leading to the dissolution of the transferor company and consolidation of company files. Interested parties may seek further court directions if necessary.
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