India Scheme of Amalgamation
Amalgamate two Indian companies with this fully editable Scheme of Amalgamation template form, in accordance with the Companies Act 1956.
- On the effective date of the amalgamation, the transferor company transfers all of its business, properties, contracts, investments, intellectual property, licenses, funds, industrial rights, and all other assets and property to the transferee company pursuant to Section 394 of the Act and subject to any existing charge over any of the assets or property.
- All liabilities, debts and obligations of the transferor company will also be transferred to the transferee company as of the same date.
- The transferor company will give notice of the transfer to all parties with an interest in the assets or liabilities being transferred.
- The transferor company will continue to carry on its business until the effective date of the transfer, and all profits accruing or losses incurred by the business will be treated as profits or losses of the transferee company.
- All legal actions by or against the transferor company will be continued and enforced by or against the transferee company.
- All employees of the transferor company as at the effective date will become employees of the transferee company on the same terms and conditions.
- Both companies will make application to the court under Sections 391 and 394 of the Act for sanctioning the Scheme and for dissolution of the transferor company.
This India Scheme of Amalgamation
template is a downloadable MS Word document.
Last Updated: 14-Apr-2016