Examples of Resulting Company 2 in a sentence
The said Scheme would be subject to the receipt of requisite approvals including from the National Company Law Tribunal, BSE Limited, National Stock Exchange of India Limited and Securities and Exchange Board of India, the shareholders and/or creditors of the Demerged Company, Resulting Company 1 and Resulting Company 2.
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Resulting Company 1 and Resulting Company 2, shall have mirror shareholding of the Company and shares of the Resulting Company 1 and Resulting Company 2 will be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) post necessary regulatory and other approvals.
With regard to the licenses of the properties, the Resulting Company 2 will enter into novation agreements, if it is so required.
Resulting Company 2 shall enter into such arrangements and give such confirmations and/ or undertakings as may be necessary in accordance with Applicable Law for complying with the formalities of the Stock Exchanges.
On the Effective Date, the Resulting Company 2 shall debit its share capital account in its books of account with the aggregate face value of the Resulting Company 2 Cancelled Shares.
Notwithstanding the reduction in the equity share capital of the Resulting Company 2, the Resulting Company 2 shall not be required to add “And Reduced” as suffix to its name.
The equity shares of the Resulting Company 2 are not listed on any stock exchange.
Further, there shall be no change in the shareholding pattern of Resulting Company 2 between the Record Date and the listing of its equity shares which may affect the status of approval of the Stock Exchanges.
The said change is highlighted in the Memorandum of Association of the Resulting Company 2, the copies of which are available for inspection.