Examples of Transferee Company 1 in a sentence
The Transferee Company 1 will, if required, enter into novation agreement(s) in relation to such contracts, deeds, bonds, agreements, arrangements and other instruments as stated above.
The Board of Directors of the Transferor Company and the Transferee Company 1 have come to the conclusion that the said consideration is in the interest of the shareholders of the Transferor Company and the Transferee Company 1.
The Transfer and vesting of the Transferred Undertaking 1 and the continuance of the proceedings mentioned in Clauses 3 and 5 shall not in any manner effect the transaction or proceedings already concluded by or against the Transferor Company pertaining to the Transferred Undertaking 1:- (i) On or before the Appointed Date; and that the Transferee Company 1 accepts on behalf of itself all acts, deeds, bonds, agreements and other instruments of whatever nature done and executed by the Transferor Company.
The Transferor Company shall at its discretion give notice in such form as it may deem fit and proper to each person, debtor or depositor that pursuant to the NCLT having sanctioned the Scheme, the said debt, loan, advance or deposit shall be paid or made good or held on account of the Transferee Company 1 and that thereafter the right of the Transferor Company to recover or realize the same stands extinguished.
The Transferee Company 1 shall under the provisions of Section I of this Scheme be deemed to be authorized to execute any such writings on behalf of the Transferor Company and to implement or carry out all such formalities or compliance referred to above on the part of the Transferor Company to be carried out or performed.
In the event Transferee Company 1 incurs any liability after the Effective Date pertaining to any period prior to the Effective Date on account of EPC Business, such liability shall be borne by Transferee Company 1.
Part B deals with the transfer of EPC Business of the Transferor Company, and transfer and vesting of the same with Transferee Company 1 on a going concern basis by way of a Slump Sale under Sections 230 to 232 of the Act and/ or other relevant provisions of the Act.Part C deals with the payment of consideration and the accounting treatment in the books of the Transferor Company and the Transferee Company 1 and various other matters consequential or otherwise integrally connected herewith.
After the Appointed Date but before the Effective Date; and that the Transferee Company 1 accepts on behalf of itself all acts, deeds, bonds, agreements and other instruments of whatever nature done and executed by the Transferor Company.
After the Appointed Date and before the Effective Date, if any Proceedings are taken by or against the Transferor Company pertaining to the Transferred Undertaking 1, the same shall be instituted and/or defended by the Transferor Company for and on behalf of the Transferee Company 1.
All tax related proceedings (excluding income tax and general corporate function) pending with any statutory or judicial authority and at any level / stage pertaining to the Transferred Undertaking 1 will also be transferred to the Transferee Company 1 as part of Section I of this Scheme.