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    Question

    Shareholders holding not less than _________ % of the

    face value of the equity shares of the transferor company (other than the equity shares already held therein, immediately before the amalgamation, by the transferee company or its subsidiaries or their nominees) become equity shareholders of the transferee company by virtue of the amalgamation.
    A 50 Correct Answer Incorrect Answer
    B 70 Correct Answer Incorrect Answer
    C 90 Correct Answer Incorrect Answer
    D 95 Correct Answer Incorrect Answer

    Solution

    Shareholders holding not less than 90% of the face value of the equity shares of the transferor company (other than the equity shares already held therein, immediately before the amalgamation, by the transferee company or its subsidiaries or their nominees) become equity shareholders of the transferee company by virtue of the amalgamation.

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