FSRL definition
Examples of FSRL in a sentence
FLFL shall be deemed to be authorised to execute any such writings on behalf of FTL and FSRL and to carry out or perform all such formalities or compliances required for the purposes referred to above on the part of FTL and FSRL.
Notwithstanding the reduction in the paid up share capital and utilization of the Securities Premium Account of FSRL, FSRL shall not be required to add “And Reduced” as suffix to its name.
Further, FTL and FSRL shall execute such further deeds, documents, etc.
It is clarified that the services of the employees of FTL and FSRL will be treated as having been continuous and not interrupted for the purpose of the said fund or funds.
Upon the coming into effect of this Scheme, the share certificates, if any, and/or the shares in electronic form representing the shares held by FLFL and its nominees in FTL and the share certificates, if any, and / or the shares in electronic form representing the shares held by FTL and its nominees in FSRL, shall be deemed to be cancelled without any further act or deed for cancellation thereof by FLFL, and shall cease to be in existence accordingly.
In the event, the said FEL Scheme becomes effective as per the provisions contained in the said FEL Scheme prior to this Scheme becoming effective, FTL and FSRL shall stand merged with FEL, being the legal successor of FLFL.
Further, FTL and FSRL shall extend all assistance to FLFL, if requested by FLFL, in obtaining the said consents, approvals and sanctions.
Further, any of the obligations, duties and commitments attached, relating or pertaining to FTL and FSRL that have been undertaken or discharged by FTL and FSRL shall be deemed to have been undertaken or discharged for and on behalf of and as an agent for FLFL.
This Scheme of Arrangement is presented under Sections 230 to 232 read with Section 66 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 for the following: • reduction of share capital of FSRL; and • amalgamation of FTL and FSRL with FLFL.
Any question that may arise as to whether any employee belongs to or does not belong to FTL and FSRL shall be decided by Board of Directors of FTL and FSRL in consultation with FLFL.