Amalgamation
Manoj
(Querist) 18 April 2012
This query is : Resolved
”A” a private ltd. Co. is a subsidiary of “B”, a parent co. Now certain part of land is owned by “A” as well as “B”. Now “A” & ”B” develops the land and floats a residential scheme. The units constructed on land belonging to “A” are financed by financial institution. Now “A” a subsidiary co. is amalgamated in to “B” the Parent Co. as per the order of Hon’ble High Court. Now my queries are as follows :
1) Can Bank or financial institution finance the units under these circumstances. What are the documents that are required by Bank from “B” the parent co.
2) Whether MOA is required to obtained of transferee co.
3) Do financial institution or Banks have to execute any documents with “B”
4) whether Any Certificate is required to be obtained from ROC
5) Does it in any way effect the interest of Bank or financial institution in respect of units financed by them.
Raj Kumar Makkad
(Expert) 19 April 2012
Such commercial advices are not provided on this free of cost site. It shall be better for you to engage the special services of any lawyer may he be one of the experts of this site.
Shonee Kapoor
(Expert) 20 April 2012
I concur with Ld. Makkad.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Manoj
(Querist) 28 April 2012
thanks SIR.
