In case of Merger of Private Limited Companies (UNLISTED)
Company can directly apply before the Hon'ble High Court under section 391. As it is unlisted, Drafting of Arrangement Scheme with the stock exchange not required. Is it so....???????
Namita Bhade (CA) (368 Points)
24 January 2014In case of Merger of Private Limited Companies (UNLISTED)
Company can directly apply before the Hon'ble High Court under section 391. As it is unlisted, Drafting of Arrangement Scheme with the stock exchange not required. Is it so....???????
Shashikant Sharma
(Company Secretary )
(1253 Points)
Replied 24 January 2014
Dear Namita,
Clause 24 f of listing agreement says that 30 days before filing the scheme to High Court the listed company shall file detailed application to stock exchange(s) where the company is listed.
No such requirement in case of unlisted companies.
So Private limited company can directly file the summons in form no 33 to High Court.
CAclubindia
