Transferor Company definition
Examples of Transferor Company in a sentence
Services of all employees with the Transferor Company up to the Effective Date shall be taken into account for purposes of all retirement benefits for which they may be eligible.
All costs, charges and expenses of the Transferor Company and of the Transferee Company in relation connection with the Scheme shall be respectively borne by the Transferor Company and the Transferee Company.
On the Scheme becoming effective, the Transferor Company shall be dissolved without being wound up.
Provided always that the Scheme shall not operate to enlarge the scope of security for any loan, deposit or facility availed of by the Transferor Company and the Transferee Company shall not be obliged to create or provide any further or additional security therefor after the Effective Date or otherwise.
In case of any difference in accounting policy between the Transferor Company and the Transferee Company, the impact of the same till the amalgamation will be quantified and adjusted in the reserves of the Transferee Company to ensure that the financial statements of the Transferee Company reflect the financial position on the basis of consistent accounting policy.