06 December 2011
This is a case of simple merger of 2 100% subsidiaries of a company, say A and B with another fellow subsidiary, say C. The appointed date for merger as per court order is 1st April 2010. effective date of merger is 2nd September 2011, after adoption of accounts of all 3 companies in AGM for FY 2010-11. Can the accounts of A,B,C be reopened for the purpose of giving effect to the merger relating to FY 2010-11?
Yes the Accounts of three Companies can be reopened....Look Rachit appointed date is means from that date all of assets of our Transferor Companies Will be merged with the Transfree Company.......In the meanwhile i.e.time for taking for merger approval you have to make Accounts but ultimately From Appointed date your Accounts will be Merged with your Transferee company.
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