Examples of Transferor Companies in a sentence
Upon the coming into effect of the Scheme, the resolutions (including shareholders resolutions) of the Transferor Companies as are considered necessary by the Board of Directors of the Transferee Company which are validly subsisting be considered as resolutions of the Transferee Company.
If any costs, charges, Taxes including duties, levies and all other expenses, if any (save as expressly otherwise agreed) arising out of or incurred in carrying out and implementing this Scheme and matters incidental thereto are borne by any of the Transferor Companies, the same shall be reimbursed by the Transferee Company.
Upon the coming into effect of this Scheme, the Transferor Companies shall stand dissolved without winding-up, without any further act or deed.
If any part of this Scheme hereof is invalid, ruled illegal by the NCLT or any other Governmental Authority, or unenforceable under present or future Applicable Laws, then it is the intention of the Transferor Companies and the Transferee Company, that such part shall be severable from the remainder of the Scheme.
The Transferor Companies and Transferee Company shall as may be required make applications and/or petitions under Sections 230 to 232 and other applicable provisions of the Act to their respective NCLT benches having jurisdiction or such other appropriate authority for sanction of this Scheme and all matters ancillary or incidental thereto.