Examples of Resulting Company 2 in a sentence
The Demerged Company, Resulting Company 1 and Resulting Company 2 by their respective Board of Directors may assent to any modifications/ amendments to the Scheme or to any conditions or limitations that the NCLT and/or any other authority, as may deem fit to direct or impose or which may otherwise be considered necessary, desirable or appropriate by them (i.e. the Board of Directors).
No third party claiming to have acted or changed his position in anticipation of this Scheme taking effect, shall get any cause of action against the Demerged Company, Resulting Company 1 and Resulting Company 2 or their directors or officers, if this Scheme does not take effect or is withdrawn, amended, modified for any reason whatsoever.
Post-amalgamation, the Authorised, Issued, Subscribed Paid up Share Capital the Resulting Company 2 is expected to increase by Rs.1,18,31,310/- pursuant to issue and allotment of new Equity Shares by the Resulting Company 2 in terms of the Scheme.
The pre-Amalgamation capital structure of the Resulting Company 2 is given in paragraph 2.D(4) above.
The Demerged/Transferor Company, Resulting Company 1, Resulting Company 2 and the Transferee Company have not taken any term deposits from depositors.
All the assets, properties and liabilities of the Demerged Undertaking 1 and Demerged Undertaking 2 shall be vested in the Resulting Company 1 and Resulting Company 2 respectively at the value appearing in the books of the Demerged Company on the close of business on the day immediately preceding the Appointed Date.
The effect of the Scheme on the Shareholders, Key Managerial Personnel and Promoter & Non-Promoter Shareholders of the Demerged/Transferor Company, Resulting Company 1, Resulting Company 2 and the Transferee Company is given in the attached reports adopted by the respective Board of Directors of the said companies pursuant to the provisions of Section 232(2)(c) of the Companies Act, 2013 at their respective meetings held on 23rd March, 2021.
To the knowledge of the Resulting Company 2, no winding up proceedings have been filed or are pending against them under the Act or the corresponding provisions of the Act of 1956.
The Resulting Company 2 shall, upon the Scheme becoming effective, record the assets and liabilities of the Demerged Undertaking 2 of the Demerged Company vested in it pursuant to this Scheme, at the respective book values, as appearing in the books of the Demerged Company at the close of business on the day immediately preceding the Appointed Date.
Notwithstanding the above, the Board of Directors of the Resulting Company 2 is authorized to modify such accounting treatment so as to comply with applicable accounting standards and the clarifications/ guidance provided by the Institute of Chartered Accountants of India as at the Effective Date.