23 March 2010
in case of amalgamation in nature of purchase all assets of liabilities transfer to purchasing co. this transferree co enjoys the same benefits as availed by transferor co.
let us assume in this process any immovable property transfered to purchasing company.
in land record how the title/patta will be transfered to purchasing company?
is it require registration of land in the name of purchasing co?
if yes how much stamp duty payable for the same?
is there any concession in stamp duty in case of amalgamation and merger.
23 March 2010
Once the High Court Order has become effective, the transferee company can take all the necesssary steps to get the immovable properties of the transferor company registered in its name.
The Order of the High Court approving the scheme of amalgamation is considered as a Conveyance. Stamp Duty is payable on this High Court order on the basis of the value of the immovable property transferred or market value of shares issued, whichever is higher. The rate of stamp duty is 1% in Gujarat on the High Court order.
Once this stamp duty payment is made, then the transferee company get submit an application with the office of the land registar requesting him to change the name of the owner from that of the transferor company to the name of the transferee company. Alongwith this application, you have to attach a certified copy of the High Court Order which should contain the scheme of amalgamation and a certified copy of the stamp duty payment receipt. The land registrar will take the above on record and will make the necessary changes in the property card.
23 March 2010
Once the High Court Order has become effective, the transferee company can take all the necesssary steps to get the immovable properties of the transferor company registered in its name.
The Order of the High Court approving the scheme of amalgamation is considered as a Conveyance. Stamp Duty is payable on this High Court order on the basis of the value of the immovable property transferred or market value of shares issued, whichever is higher. The rate of stamp duty is 1% in Gujarat on the High Court order.
Once this stamp duty payment is made, then the transferee company get submit an application with the office of the land registar requesting him to change the name of the owner from that of the transferor company to the name of the transferee company. Alongwith this application, you have to attach a certified copy of the High Court Order which should contain the scheme of amalgamation and a certified copy of the stamp duty payment receipt. The land registrar will take the above on record and will make the necessary changes in the property card.
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