Second Transferor Company definition
Examples of Second Transferor Company in a sentence
Upon amalgamation of First Transferor Company with the Transferee Company, Second Transferor Company would become wholly owned subsidiary of the Transferee Company and accordingly upon amalgamation of Second Transferor Company with the Transferee Company comes into effect, no shares shall be issued and allotted by Transferee Company either to itself or to any of its nominee shareholders holding shares in Second Transferor Company.
Further, as on the date of approval of the scheme by the Board of directors of Fourth Transferor Company, the entire share capital of the Fourth Transferor Company is held by the Second Transferor Company and its nominees.
The aforesaid investments shall be adjusted against the paid- up equity share capital of the Second Transferor Company.
The Second Transferor Company is a wholly owned subsidiary of the Transferee Company.
Thus, upon the Scheme becoming effective, neither any consideration will be paid, nor any shares shall be issued by the Transferee Company to the shareholders of the Second Transferor Company.