Power of Company Liquidator to accept shares etc as consideration for sale of property of company. (in brief) 1-When the company is wound up, the company liquidator sells the property or assets of the company to the other company with the sanction of a special resolution of the company confirming on him either authority or an authority in particular arrangement i.e.:- a) received by way of compensation whole or in part for transfer or sale of shares etc. b) enter into any other arrangement etc 2-it is noted that there is no arrangement shall be done without consent of creditors. 3- any transfer, sale or other arrangement in pursuance of this section shall be bind on the transferor company. 4-any member is not consented for that matter, a notice, within 7 days, shall be left at the Registered office of the Company. Thereafter, the company liquidator shall either make arrangement or purchases his consent in this regards 5- purchases of consent etc shall be method in the Special Resolution. (Section 319 of the Company Act, 2013)
Posted on: Wed, 25 Sep 2013 23:43:04 +0000
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