Company law related queries

Dear Sakshi, 

1. Yes listed co can merge with unlisted co. refer to section 391-395 and take over code of SEBI.

2. i dont think this has been provided for.

3. redemption of Pref Shares out of sale of Assets is not allowed. only out of profits of the company. 

Regards,

CA Ankit

1. Yes, also make note a reverse merger happens when an unlisted company merges with a listed company

Conduct Board Meetings, proposal of amalgamation, intimation to stock exchange, file form 23 in ROC within 30 days and so on...

3. Not allowed

2. I am not sure, but i think its should be allowable.

Thanks for the reply Gaurav and Ankit.

2. This is for your info, Kerala High Court has allowed PSI Data Syetems Ltd to convert its preference shares.

You can chck out the case law at the following address

https://indiankanoon.org/doc/1745033/

But where should I Look for merger of listed Co with unlisted Co in TAke over code?

HFCL Infotel Ltd. (transferor company) was an unlisted company incorporated ... 2003, it merged with Investment Trust of India Ltd. which is a listed company

Copy of Case Law: -

https://www.sebi.gov.in/satorders/HfclIn1.pdf

Searching on net.. but not yet found.. do let me know when you get it from other or same source...

Yes, a listed company can be merged with an unlisted public company. The company in which I have done my management training wasa listed company and it has been merged with a unlisted public company.

Regards

Arun Jaiswal