ICSI Corporate Restructuring and Insolvency Solved Question Paper Dec 2013
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Competition Act, 2002, therefore the contention of the legal cell of Y Ltd. is not correct. ii C Section 6 of the Competition Act, 2002 deals with the provisions related to combinations. C Any person or enterprise who proposes to enter into any combination, shall give a notice to CCI. C The notice shall contain the details of proposed combination shall submit the same together with the fee within 30 days of approval of the proposal relating to merger or amalgamation by the board of directors. C No combination shall come into effect until 210 days have passed from the day of notice or the Commission has passed orders, whichever is earlier. b i The methods of arrangement that are described in Section 390 b are as under i By way of consolidation of shares of different class. ii By way of division of shares of one class into shares of different class. iii By both these methods. ii Other possible methods of arrangement are as under i Reduction of paid up capital. ii Conversion of one type of shares into another type of shares. iii Conversion of shares into debentures or other securities.
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In the above case, the court has ordered for the publication of the notice related to meeting in an English newspaper as well as in the Official Gazette. As per the Rule 73 of the Companies Court Rules 1959, the notice of the meeting is required to be given to the creditors and or members. Rules 74 of the above - mentioned rules specifies that the notice of the meeting shall be advertised in such newspaper and in such manner as the judge may direct within the stipulated time period. Court s order to publish the notice in the English newspaper is tenable as per law. But as per the provision of the Act Rules, Court s order to publish the notice in the Official Gazette is not tenable.
2013 - June 3 b , c