Its known to all that the law of amalgamation, mergers & acquisition is little bit complicated and cumbersome. In this write-up an attempt is made to ease the law to reach the readers and to highlight the beauty of the relevant legal provisions.
Introduction:
The law relating to amalgamation is dealt with under Chapter V – Section 390 to 396A of Companies Act, 1956 and Rules 67 to 87 of Companies (Court) Rules, 1959. The term “amalgamation” or “merger” is not defined in the Companies Act 1956, thus we may define it as “transfer of assets and liabilities of one company (called as “transferor” company) to another company (called as “transferee” company) and the life of Transferor Company is usually ended with “dissolution without winding-up”. The term “merger” refers to the end result of amalgamation.
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