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of <h1>Transferee Company Can Acquire Shares from Dissenting Shareholders Under Section 235 of Companies Act, 2013</h1> Section 235 of the Companies Act, 2013, outlines the process for a transferee company to acquire shares from dissenting shareholders when a scheme or contract involving share transfer is approved by at least 90% of the shareholders. After approval, the transferee company can notify dissenting shareholders of its intent to acquire their shares. If the dissenting shareholders do not successfully appeal to the Tribunal within a month, the transferee company can proceed with the acquisition. The transferor company must register the transferee company as the new shareholder and inform dissenting shareholders of the transaction. Funds received must be held in trust and distributed to entitled shareholders within sixty days.
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