Examples of Scheme of Merger in a sentence
Acquisition of shares under Scheme of Merger / AmalgamationMergers and amalgamations of companies in India are usually governed by an order issued by a competent Court on the basis of the Scheme submitted by the companies undergoing merger/amalgamation.
Accordingly, 9,33,71,512 (Nine crores thirty three lacs seventy one thousand five hundred and twelve only) equity shares of the face value of Rs. 10 each of our Company, earlier held by SHMPL stood cancelled pursuant to the SHMPL Scheme of Merger coming into effect.
The appointed date under the SHMPL Scheme of Merger was April 1, 2012, and the SHMPL Scheme of Merger became effective from November 5, 2012 when a certified true copy of the order of the High Court of Madras approving the SHMPL Scheme of Merger was filed with the ROC by SHMPL and our Company, (“SHMPL Effective Date”).
Further, The Board of Directors of the Company at its meeting held on April 3, 2021, has approved a Scheme of Merger of the Company into Hathway Digital Limited – its holding Company .
The appointed date for the SHMPL Scheme of Merger was April 1, 2012 and the specified date for the purposes of re-organisation and issue of shares was November 05, 2012, as approved by the Hon’ble High Court of Madras, vide its Merger Order.
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If the bidder issues notice of termination based on the fact that there is change to its legal entity status or solvency or due to any Scheme of Merger or Demerger, then the Bidder is duty bound to identify the alternate mutually acceptable implementing Agency in order to ensure continuity of the obligations as per the SOW.
The Hon’ble NCLT, vide its Order dated 22nd December, 2017, has directed the Company to file application / the Scheme of Merger in accordance with the provisions of Section 230 & 232 of the Companies Act, 2013.
Later on, the DFUPL (Transferor Company) filed an application with the Hon’ble National Company Law Tribunal, Chandigarh Bench for the withdrawal of the Scheme of Merger between DFUPL and BPCL vide Company Application No. 528/2019 read with CP (CAA) No. 03/Chd/Hry/2019 and the same has been allowed by the Hon’ble National Company Law Tribunal, Chandigarh Bench vide its order dated August 28, 2019 and the Merger Petition was dismissed as withdrawn.
The appointed date for the SEFCL Scheme of Merger was April 01,2015.