https://www.taxtmi.com/caselaws?id=105054 A BIFR-sanctioned amalgamation that dissolves the transferor company without winding up ends its separate juristic existence from the effective date. The buy-back covenant tied to the transferor's shares became incapable of future performance after the amalgamation and was discharged by frustration, while liabilities already accrued before that date remained enforceable. The arbitration clause survived only for disputes concerning pre-transfer rights and liabilities. Recovery as arrears of land revenue under the U.P. Public Moneys (Recovery of Dues) Act was maintainable only to the extent of any pre-transfer breach or accrued liability, not for the extinguished post-transfer buy-back obligation. en-us Thu, 09 Dec 1999 00:00:00 +0530 Fri, 02 Mar 2012 13:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105054 A BIFR-sanctioned amalgamation that dissolves the transferor company without winding up ends its separate juristic existence from the effective date. The buy-back covenant tied to the transferor's shares became incapable of future performance after the amalgamation and was discharged by frustration, while liabilities already accrued before that date remained enforceable. The arbitration clause survived only for disputes concerning pre-transfer rights and liabilities. Recovery as arrears of land revenue under the U.P. Public Moneys (Recovery of Dues) Act was maintainable only to the extent of any pre-transfer breach or accrued liability, not for the extinguished post-transfer buy-back obligation. Case-Laws Companies Law Thu, 09 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105054