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Merger and amalgamation



Explanation to section 233(10) &232(3)(b)"transferee co. Not to hold any share in its own name or trust and all such shares to be cancelled or extinguished. "
 
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Student CA Final

Earlier transferee company hold shares in transferor company... So u hv to cancel those share at the time of amalgamation

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Student CA Final

Bcz purchase consideration is paid to external shareholders only... U can't pay pc to urself

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