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Small Depositors

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(Querist)
15 September 2007 Please tell me the consequences when a company absorbed or amalgamated with another company which is defaulted in the payment of "Small Depositors".
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SUBRAMANIA SARMA G

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SUBRAMANIA SARMA G (Expert)
17 September 2007 As per the legislation, if a company has defaulted inthe payment of small depositers, it has to face the consequnces prescribed under the law. It does not matter whether it gets merged with another company or another company gets merged with it.
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