When A Ltd. and B Ltd. go into liquidation and a new company X Ltd. is formed, it is a case of:
Amalgamation is the combination of one or more companies into a new entity. An amalgamation is distinct from a merger because neither of the combining companies survives as a legal entity; a completely new entity is formed to house the combined assets and liabilities of both companies. An amalgamation is an arrangement in which: I. The assets / liabilities of two or more firms become vested in another firm. II. As a legal process, it involves joining of two or more firms to form a new entity or absorption of one/ more firms with another. III. The outcome of this arrangement is that the amalgamating firm is dissolved / wound-up and loses its identity and its shareholders become shareholders of the amalgamated firm. Amalgamation is distinct from merger because a merger is a combination of two or more firms in which only one firm would survive and the other would cease to exist, its assets / liabilities being taken over by the surviving firm. A Merger is an arrangement in which the assets /liabilities being taken over by the surviving firm.
S.55 of Transfer of Property Act, 1882 provides for:
What is the composition of the Appellate Tribunal under the Recovery of Debts and Bankruptcy Act?
Any offence committed under SEBI Act which is triable by a Special Court shall, until a Special Court is established, be taken cognizance of and tried by
Can a Banking Company incorporated in India have as a director in its Board of directors any person who is a director of any other banking company?
Rule of Estoppel is contained in Section ………. Of Indian Evidence Act
When did the Government of India decide to formulate Citizen’s Charters at Centre and State level?
As per Section 24A of SEBI Act, compounding of offence by Securities Appellate Tribunal can be done
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Maximum no. of members in case of private company is
As per the provisions of the LLP Act how can a firm convert into a limited liability partnership?