Merger

This query is : Resolved 

09 September 2010 We have filed petition to High Court for merger of the two Company. Now, we want to withdraw the petition. can we do so? If Yes, under which section.

09 September 2010 Withdrawal of the Scheme not permissible

Once the scheme for merger has been approved by requisite
majority of
Shareholders and creditors, the scheme cannot be with-drawn
by subsequent meeting of shareholders by passing Resolution
for withdrawal of the petition submitted to the court U/s-
391 for sanctioning the scheme.

28 September 2010 In my Opinion, It can be wthdrawn before approved by the High Court.




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