Amalgamation is complete after high court sanction?
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The High Court has wide powers to sanction a scheme of amalgamation that involves .... it states, if it is, necessary to state, negatively, that nothing shall be done beyond that
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Explanation:
Amalgamation Procedure
The new company officially becomes an entity and issues shares to shareholders of the transferor company. The transferor company is liquidated, and all assets and liabilities are taken over by the transferee company. In accounting, amalgamations may also be referred to as consolidations.
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