M/s Brite Instruments Pvt. Limited is acquiring M/s Sunshine Pvt.Limited. You are the Company Secretary of M/s Brite Instruments Pvt Limited. Help your management (Board of Directors) to prepare a checklist in this regar
CS Professional · Corporate Restructuring, Valuation and Insolvency · PYQS · June 2017
M/s Brite Instruments Pvt. Limited is acquiring M/s Sunshine Pvt.Limited. You are the Company Secretary of M/s Brite Instruments Pvt Limited. Help your management (Board of Directors) to prepare a checklist in this regard.
Answer & Explanation:
Check-list for M/s Brite Instruments Pvt. Ltd. (the transferee company) while acquiring M/s Sunshine Pvt. Ltd. is as follows: Offer made to M/s Sunshine Pvt. Ltd. (transferor company) is made after due diligence. Copy of notice for the general meeting along with a copy of e-form No. 35A is circulated by the transferor company to its members. Intimation received from the transferor company in respect of approval of the offer by the requisite majority of the shareholders of the transferor company. Notice as prescribed in section 235 of the Companies Act, 2013 given by the company to dissenting shareholders of the transferor company for the purpose of acquiring their shares. If there is any Court Order in favour of the dissenting shareholders of the transferor company, terms of the same has been complied with. The company must ensure that the prescribed notice has been sent to those shareholders of the transferor company who have not assented to the transfer of the shares and that such shareholders have agreed to transfer their shares to the company. To ensure that the copy of the notice has been sent to the dissenting shareholders of the transferor company and duly executed instrument(s) of transfer together with the value of the shares have been sent to the transferor company.
Topics: Corporate Restructuring
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