Section 240 of Companies Act, 2013 – Liability of officers in respect of offences committed prior to merger, amalgamation, etc.
SECTION 240. LIABILITY OF OFFICERS IN RESPECT OF OFFENCES COMMITTED PRIOR TO MERGER, AMALGAMATION, ETC. [Effective from 15th December, 2016] Notwithstanding anything in any other law for the time being in force, the liability in respect of offences committed under this Act by the officers in default, of the transferor company prior to its merger,… Read More
Section 239 of Companies Act, 2013 – Preservation of books and papers of amalgamated companies
SECTION 239. PRESERVATION OF BOOKS AND PAPERS OF AMALGAMATED COMPANIES [Effective from 15th December, 2016] The books and papers of a company which has been amalgamated with, or whose shares have been acquired by, another company under this Chapter shall not be disposed of without the prior permission of the Central Government and before granting… Read More
Section 238 of Companies Act, 2013 – Registration of offer of schemes involving transfer of shares
SECTION 238. REGISTRATION OF OFFER OF SCHEMES INVOLVING TRANSFER OF SHARES [Effective from 15th December, 2016] (1) In relation to every offer of a scheme or contract involving the transfer of shares or any class of shares in the transferor company to the transferee company under section 235,— (a) every circular containing such offer and… Read More
Section 237 of Companies Act, 2013 – Power of Central Government to provide for amalgamation of companies in public interest
SECTION 237. POWER OF CENTRAL GOVERNMENT TO PROVIDE FOR AMALGAMATION OF COMPANIES IN PUBLIC INTEREST [Effective from 15th December, 2016] (1) Where the Central Government is satisfied that it is essential in the public interest that two or more companies should amalgamate, the Central Government may, by order notified in the Official Gazette, provide for… Read More
Section 236 of Companies Act, 2013 – Purchase of minority shareholding
SECTION 236. PURCHASE OF MINORITY SHAREHOLDING [Effective from 15th December, 2016] (1) In the event of an acquirer, or a person acting in concert with such acquirer, becoming registered holder of ninety per cent or more of the issued equity share capital of a company, or in the event of any person or group of… Read More
Section 235 of Companies Act, 2013 – Power to acquire shares of shareholders dissenting from scheme or contract approved by majority
SECTION 235. POWER TO ACQUIRE SHARES OF SHAREHOLDERS DISSENTING FROM SCHEME OR CONTRACT APPROVED BY MAJORITY [Effective from 15th December, 2016] (1) Where a scheme or contract involving the transfer of shares or any class of shares in a company (the transferor company) to another company (the transferee company) has, within four months after making… Read More
Section 234 of Companies Act, 2013 – Merger or amalgamation of company with foreign company
SECTION 234. MERGER OR AMALGAMATION OF COMPANY WITH FOREIGN COMPANY [Effective from 13th April, 2017] (1) The provisions of this Chapter unless otherwise provided under any other law for the time being in force, shall apply mutatis mutandis to schemes of mergers and amalgamations between companies registered under this Act and companies incorporated in the jurisdictions… Read More
Section 233 of Companies Act, 2013 – Merger or amalgamation of certain companies
SECTION 233. MERGER OR AMALGAMATION OF CERTAIN COMPANIES [Effective from 15th December, 2016] (1) Notwithstanding the provisions of section 230 and section 232, a scheme of merger or amalgamation may be entered into between two or more small companies or between a holding company and its wholly-owned subsidiary company or such other class or classes… Read More
Section 232 of Companies Act, 2013 – Merger and amalgamation of companies
SECTION 232. MERGER AND AMALGAMATION OF COMPANIES [Effective from 15th December, 2016] (1) Where an application is made to the [2]Tribunal under section 230 for the sanctioning of a compromise or an arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown to the [2]Tribunal— (a) … Read More
Section 231 of Companies Act, 2013 – Power of Tribunal to enforce compromise or arrangement
SECTION 231. POWER OF TRIBUNAL TO ENFORCE COMPROMISE OR ARRANGEMENT [Effective from 15th December, 2016] (1) Where the [1][Tribunal] makes an order under section 230 sanctioning a compromise or an arrangement in respect of a company, it— (a) shall have power to supervise the implementation of the compromise or arrangement; and (b) may, at the… Read More
Section 230 of Companies Act, 2013 – Power to compromise or make arrangements with creditors and members
SECTION 230. POWER TO COMPROMISE OR MAKE ARRANGEMENTS WITH CREDITORS AND MEMBERS [Effective from 15th December, 2016, except sub-section (11) and (12) which are effective from 3rd February, 2020 ] EXEMPTION [5][In Section 230, for Government Companies, wherever the word “Tribunal” occurs, it shall be read as “Central Government” The above exceptions/modifications/adaptations shall be applicable… Read More
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