Thursday, 10 December 2015

HC founds share exchange in Amalgamation Scheme as unfair; directs ROC to determine such ratio

Companies Act: Where Court in principle agreed to sanction scheme of amalgamation whereby entire undertaking of transferor company was proposed to be transferred to transferee company but found exchange ratio to be unfair and unjust and not based on market realities, Registrar of Companies was to be directed to examine matter through experts and determine a fair and just exchange ratio

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