Examples of The Resulting Company in a sentence
On determination of Record Date, the Demerged Company shall provide to the Resulting Company the list of its shareholders as on such Record Date, who are entitled to receive the CCPS in the Resulting Company in terms of Clause 10.2 of this Part V below and/ or cash consideration in terms of Clause 10.4 of this Part V below, in order to enable the Resulting Company to discharge consideration to such shareholders of the Demerged Company as on Record Date.
The CCPS shall, subject to the provisions of the Articles of Association of the Resulting Company and subject to the provisions of the Companies Act, have the right to receive such amount of dividend (subject to applicable taxes).
It is clarified that till entry is made in the records of the Appropriate Authorities and till such time as may be mutually agreed between the Parties, the Demerged Company will continue to hold the asset, property, Permit, contract and/or rights and benefits arising therefrom, as the case may be, in trust for and on behalf of the Resulting Company.
Nothing in this Scheme shall affect any transaction or proceedings already concluded or liabilities incurred by the Demerged Company in relation to the Demerged Undertaking until the Appointed Date, to the end and intent that the Resulting Company shall accept and adopt all acts, deeds and things done and executed by the Demerged Company in respect thereto as done and executed on behalf of the Resulting Company.
Upon the effectiveness of this Scheme, in accordance with the applicable accounting standards, Act and generally accepted accounting principles in India, the Demerged Undertaking 2 is considered acquired by the Resulting Company under Ind AS 103.
Accordingly, the Resulting Company shall provide the following accounting treatment in its books of accounts.
Upon coming into effect of this Scheme, other than as may be agreed between the Parties, all such suits, actions, administrative proceedings, tribunals proceedings, show cause notices, demands and legal proceedings of whatsoever nature in relation to the Demerged Undertaking, for a period prior to the Effective Date, shall be enforced against the Demerged Company and pertaining to the period after the Effective Date shall be enforced against the Resulting Company.
Pursuant to the issuance of the Transfer Notice, the Resulting Company Allottees shall undertake such steps as required under Applicable Law for completion of the transfer of the CCPS, including issuance of appropriate transfer instructions to depositories/ depository participants as the case may be.
With effect from the Effective Date, only the Demerged Company shall be liable to perform and discharge all liabilities and obligations in relation to the Remaining Business of the Demerged Company and the Resulting Company shall not have any liability or obligation in relation to the Remaining Business of the Demerged Company.
The Scheme is expected to be in the best interests of the shareholders, employees and the creditors of each of the Demerged Company 1, Demerged Company 2 and the Resulting Company.