05 January 2012
As part of Merger, X Ltd. merged with Y Ltd. Due to this effect all the directors of X Ltd. became the directors of Y Ltd.
In such a case, is it necessary to obtain the declarations from the directors of Y Ltd. (transferred from the erstwhile X Ltd.) regarding the directorship details of other companies which is required under Sec.274(1)(g) in Form - DD-A and Sec.299 in Form 24AA of the Companies Act 1956. Please clarify on the below issue.
There is no need of Declaration by Directors of Amalgamted Company If they have at the Begining of the Year have made Such declaration.
However If they they have entered in to new Office of Directors or Become interseted or Concerened in any way in new entities then they have to made Declaration regarding this.
CAclubindia
