https://www.taxtmi.com/acts?id=15670 Where a scheme transferring shares to a transferee company is approved by the required majority, the transferee company may notify dissenting shareholders that it will acquire their shares; unless the Tribunal orders otherwise on a timely application, the transferee company is bound to acquire those shares on the same terms as approving shareholders. The transferee company must present the notice, instrument of transfer and consideration to the transferor company, which shall register the transferee as holder and inform dissenting shareholders; sums received are to be held in trust in a separate account and disbursed within sixty days. Modifications apply to pre-commencement offers. en-us Thu, 22 Dec 2011 15:31:22 +0530 Thu, 22 Dec 2011 15:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15670 Where a scheme transferring shares to a transferee company is approved by the required majority, the transferee company may notify dissenting shareholders that it will acquire their shares; unless the Tribunal orders otherwise on a timely application, the transferee company is bound to acquire those shares on the same terms as approving shareholders. The transferee company must present the notice, instrument of transfer and consideration to the transferor company, which shall register the transferee as holder and inform dissenting shareholders; sums received are to be held in trust in a separate account and disbursed within sixty days. Modifications apply to pre-commencement offers. Act-Rules Bills Thu, 22 Dec 2011 15:31:22 +0530 https://www.taxtmi.com/acts?id=15670