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TMI BlogPower of Central Government to provide for amalgamation of companies in national interest.X X X X Extracts X X X X X X X X Extracts X X X X ..... o or more companies should amalgamate, then, notwithstanding anything contained in sections 394 and 395 but subject to the provisions of this section, the Central Government may, by order notified in the Official Gazette, provide for the amalgamation of those companies into a single company with such constitution; with such property, powers, rights, interests, authorities and privileges; and with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... member or creditor in or against the company resulting from the amalgamation are less than his interest in or rights against the original company, he shall be entitled to compensation which shall be assessed by such authority [3] [as may be prescribed and every such assessment shall be published in the Official Gazette]. The compensation so assessed shall be paid to the member or creditor con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) the Central Government has considered, and made such modifications, if any, in the draft order as may seem to it desirable in the light of any suggestions and objections which may be received by it from any such company within such period as the Central Government may fix in that behalf, not being less than two months from the date on which the copy aforesaid is received by that company, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 2002, w.e.f. a date yet to be notified. [6] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [7] The word "and" omitted by the Companies (Amendment) Act, 1985, Act, (35 of 1985). [8] Inserted, by the Companies (Amendment) Act, 1985, Act, (35 of 1985). - - statute, statutory provisions legislation, law, enactme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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