Companies Act 1956- amalgamation

Heaven 2011 (Querist) 11 June 2009 This query is : Resolved
Dear Sir,

In case of amalgamation between two Companies the, if the share capital of the transferre company is increased due to issue of share capital to the share holders of transferror company, is the transferree company required to coply with the provision of the Companies Act seperately or it will be exempted as the compromise or arrangement it self is complete code and hence it will not require to follow any procedure of the Companies Act seperately by the transferree company.Kindly advise.
Regards,
Asish

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Manish Singh (Expert) 11 June 2009
the transferee company is not exempted to comply with other provisions of the Companies Act just because some arrangement has taken place. Sec 391 and othr amalgamated provisions of the companies act is not a comlete code.