Question

is an amalgamation considered to be complete once the scheme has been sanctioned by the high court? or is it complete only once it has been registered with the registrar of companies as per section 394(3) of the companies act, 1956?

Answer 1

Answer:

Once the court sanctions the amalgamation, the amalgamation is made effective and binding by virtue of statutory power, inter alia, by the transferor to the transferee-company of the whole or any part of the undertaking, property rights and liabilities of the transferor-company by virtue of the provisions of Section.

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