Issue of Share in Lieu of Merger
This query is : Resolved
24 June 2008
Hi,
In case of Merger when shares are issued to shareholders of transferor company; do shareholder of transferor company, being company, need to pass resolution for the same.
Please advice.
In case of Merger when shares are issued to shareholders of transferor company; do shareholder of transferor company, being company, need to pass resolution for the same.
Please advice.
24 June 2008
why there is a need for resolution...? because the transferor company is already sold off....
24 June 2008
thank you for reply but just to clarify for instance:
XYZ-- Transferor
PQR-- Transferee
ABC-- Shareholder of transferor
ABC Pvt. Ltd. being shareholder of transferor compnay(XYZ) received shares from transferee(PQR).
So do any resolution needed to be passed by ABC Co.
XYZ-- Transferor
PQR-- Transferee
ABC-- Shareholder of transferor
ABC Pvt. Ltd. being shareholder of transferor compnay(XYZ) received shares from transferee(PQR).
So do any resolution needed to be passed by ABC Co.
24 June 2008
i don't think ABC need to pass any resolution in shareholder meeting. they are just selling the investment of company. only board of directors of ABC need to pass a resolution in board meeting to authorise the sale of investment.
24 June 2008
open
24 June 2008
No resolution is required in the books of the SHARE HOLDER i mean the ABC LId... WHY SHOULD THE SHAREHOLER PASS A RESOLUTION???
25 June 2008
Thank you.
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