Transferee Company definition

Transferee Company means any company or body corporate established in the Islands or in any other jurisdiction.

Transferee Company means any company or body corporate established in the Islands or in any other jurisdiction.Power to acquire shares of dissentient shareholders‌88. (1) Where a scheme or contract involving the transfer of shares or any class of shares in a company (in this section referred to as “the transferor company”) to another company, whether a company within the meaning of this Act or not (in this section referred to as “the transferee company”) has, within four months after the making of the offer in that behalf by the transferee company, been approved by the holders of not less than ninety per cent in value of the shares affected, the transferee company may, at any time within two months after the expiration of the said four months, give notice in the prescribed manner to any dissenting shareholder that it desires to acquire that person’s shares, and where such notice is given the transferee company shall, unless on an application made by the dissenting shareholder within one month from the date on which the notice was given, the Court thinks fit to order otherwise, be entitled and bound to acquire those shares on the terms on which under the scheme or contract the shares of the approving shareholders are to be transferred to the transferee company.(2) Where a notice has been given by the transferee company under this section and the Court has not, on an application made by the dissenting shareholder, ordered to the contrary, the transferee company shall, on the expiration of one month from the date on which the notice has been given or, if an application to the Court by the dissenting shareholder is then pending, after that application has been disposed of, transmit a copy of the notice to the transferor company and pay or transfer to the transferor company the amount or other consideration representing the price payable by the transferee company for the shares which by virtue of this section that company is entitled to acquire, and the transferor company shall thereupon register the transferee company as the holder of those shares.(3) Any sums received by the transferor company under this section shall be paid into a separate bank account, and any such sums and any other consideration so received shall be held by that company on trust for the several persons entitled to the shares in respect of which the said sum or other consideration were respectively received.(4) In this section —

Transferee Company means a company to which an interest in shares is conveyed; and

Examples of Transferee Company in a sentence

• Upon issue and allotment of Equity Shares in the Transferee Company to the members of the Transferor Company as provided in the Scheme, the existing Equity Shares held by members of the Transferor Company shall stand automatically cancelled/extinguished.

• Each of the Transferor Company and the Transferee Company shall make the necessary disclosures of the Scheme to the Stock Exchanges in terms of the SEBI Listing Regulations and the SEBI Merger Circulars, as amended from time to time.

• Notwithstanding any contained in other clauses of this Scheme, the Transferor Company, the Transferee Company, the First Demerged Company and the Demerged Companies, shall enter into such documents, agreements, make applications to various authorities, regulatory bodies to facilitate the uninterrupted transitions of the business from the Transferor Company, the First Demerged Company and Demerged Companies to the First Resulting Company or the Second Resulting Company, as the case may be.

• If any such resolutions have any monetary limits approved under the provisions of the Act or of any other applicable statutory provisions, then the said limits, as are considered necessary by the Board of Directors of the Transferee Company, shall be added to the limits, if any, under the like resolutions passed by the Transferee Company.

• On approval of this Scheme by the Bombay High Court, for the purpose of giving effect for transfer of Brands in favour of the Transferee with any registering or regulatory authority, it shall be sufficient to provide a certified copy of the Order passed by the Hon’ble High Court of Judicature at Bombay which may be relied upon by the concerned registering or regulatory authority without the requirement for execution of any further documents between the Transferor Company and the Transferee Company.

More Definitions of Transferee Company

Transferee Company means Kansai Nerolac Paints Limited

Transferee Company means Zydus Healthcare Limited, a company incorporated under the provisions of the Act and having its registered office at Zydus Tower, Satellite Cross Roads, Sarkhej-Gandhinagar Highway, Ahmedabad–380 015.

Transferee Company means TPL PLASTECH LIMITED.

Transferee Company means the company into which a transferor company is amalgamated.

Transferee Company has the meaning assigned to it in Section 4.1.

Transferee Company means Mindtree Limited, a company incorporated under the Companies Act, 1956 and having its registered office at Global Village, RVCE Post, Mysore Road, Bengaluru 560 059.

Transferee Company means HFCL.