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.

Nyamath (Querist) 22 January 2010
what if one company has give an surety for a loan by that bank..??

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Companies Act 1956

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