16 April 2010
here i mentioned the situation of section 391 and 394 of the Companies Act, 1956 and AS 14.
Two listed companies under the process of amalgamation, now at the time of annual report finalization at the Board meeting, what they do? whether they show their balance sheet separately? if so, at the time of AGM They will get their order for amalgamaterion then what they do?????
pls. any one can explain me, what are the provisions to be considered and do ????
17 April 2010
When do you expect the order to be received. If you feel that the order will not be received by July (so that you can get the consolidated accounts approved and placed at the Board before Sept), then obtain extension of time to hold AGM upto december.
In amalgamation cases, the ROC generally allows extension of time to hold AGM. Once you get the order and it becomes effective (upon filing Form 21), hold the BM in the transferee company and get the consolidated accounts approved. Hold the AGM before Dec.
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