Hi All:
What is the diffrence between Amalgamation U/s 391-394 & Amalgamation U/s 395 of the Act. Can we go Amalgamation without the Intervention of the Court.
2 Replies
Jitendra Satpal
(Student)
(213 Points)
Replied 23 February 2008
sec. 391 to 394 prescribe procedure for amalgamation.
but sec. 395 enables a company to acquire the share of another company & this procedure is called as 'take over' NOT AMALGAMATION.
I think for amalgamation it is necessary to make an application to the court but in case of take over Intervention of the Court involves only when dissenting shareholder approach to the court.
I hope i am right...wait for expert advice.
but sec. 395 enables a company to acquire the share of another company & this procedure is called as 'take over' NOT AMALGAMATION.
I think for amalgamation it is necessary to make an application to the court but in case of take over Intervention of the Court involves only when dissenting shareholder approach to the court.
I hope i am right...wait for expert advice.
Ca. Alok Gupta
(CA Job)
(172 Points)
Replied 23 February 2008
section 391 to 394 describe the procedure of amalgamation.in this case application made to the court is compulsory, but if procedure follow under sec 395 (i.e. takeoverconcept).there is no need of application made to the court
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