Companies Act 1956

Nyamath (Querist) 21 January 2010 This query is : Resolved
can the financial instituions raise objections against the scheme of amalgamation..??

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S. Bharath (Expert) 21 January 2010
Yes, if they are interested in any of the companies that are proposed to amalgamate.

S.KARUNAMOORTHY (Expert) 21 January 2010
yes , but if the financial arrangement between the company and the bank or financial institution having a cluase to this extent. Before proceeding with, we have seek approval from them.

Guest (Expert) 21 January 2010
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Raj Kumar Makkad (Expert) 21 January 2010
In case approval has already been obtained from such institutions then there is no scope of making any objection by them.