Provisions for facilitating reconstruction and amalgamation of companies.
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....re companies; and (b) that under the scheme the whole or any part of the undertaking, property or liabilities of any company concerned in the scheme (in this section referred to as a "transferor company") is to be transferred to another company (in this section referred to as the "transferee company"); the ^[3][Tribunal] may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters: (i) the transfer to the transferee company of the whole or any part of the undertaking, property or liabilities of any transferor company;  ....
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....public interest: Provided further that no order for the dissolution of any transferor company under clause (iv) shall be made by the ^[9][Tribunal] unless the Official Liquidator has, on scrutiny of the books and papers of the company, made a report to the ^[10][Tribunal] that the affairs of the company have not been conducted in a manner prejudicial to the interests of its members or to public interest.] (2) Where an order under this section provides for the transfer of any property or liabilities, then, by virtue of the order, that property shall be transferred to and vest in, and those liabilities shall be transferred to and become the liabilities of, the transferee company; a....
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