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Section 233 refers to merger of which of the following: 1. Between 1 small company and not a small company on other side 2. Between holding and its wholly owned subsidiary company Between holding and its subsidiary company where it holds 99.9 % shareholding and only 0.1% shares are held as per section 187

March 25, 2020

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ABC Limited is a wholly owned subsidiary of VWX limited. The company made an application of merger under section 232 and the tribunal rejected the application with the view that it should file an application under section 233. Comment on Tribunals Order of rejection of application

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Whether the liability of offences committed by officer in default of transferor company under section 240 prior to the merger or amalgamation or acquisition be continued even after such merger or amalgamation or application shall be dismissed on the grounds that transferor company is no more in existence

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