https://www.taxtmi.com/acts?id=15668 A statutory procedure allows a scheme of merger or amalgamation for prescribed classes of companies, requiring notice inviting objections, ninety per cent member approval, declarations of solvency, and creditor approval by nine tenths in value. The transferee files the approved scheme with the Central Government and Registrar; objections by the Registrar or Official Liquidator must be raised within thirty days, otherwise the scheme is registered. Registration dissolves the transferor without winding up and transfers property, liabilities, charges and ongoing proceedings to the transferee, which must adjust authorised capital and may not hold its own shares post merger. en-us Thu, 22 Dec 2011 15:23:03 +0530 Thu, 22 Dec 2011 15:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15668 A statutory procedure allows a scheme of merger or amalgamation for prescribed classes of companies, requiring notice inviting objections, ninety per cent member approval, declarations of solvency, and creditor approval by nine tenths in value. The transferee files the approved scheme with the Central Government and Registrar; objections by the Registrar or Official Liquidator must be raised within thirty days, otherwise the scheme is registered. Registration dissolves the transferor without winding up and transfers property, liabilities, charges and ongoing proceedings to the transferee, which must adjust authorised capital and may not hold its own shares post merger. Act-Rules Bills Thu, 22 Dec 2011 15:23:03 +0530 https://www.taxtmi.com/acts?id=15668