mukesh (auditor) 07 December 2010

Merger

If company x (active trading company) is merged with company y (now not actively trading) under business reconstruction approved by high courts in may 2010 with retrospective effect from1/4/09. Both have registration in state A. Can the merged company y (renamed x) surrender registration of y and continue registation of company x? In state B, only company x has registration. Can the merged company continue registration in state B?

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2 Replies

Nu.Delhi.Law.Fora. (Advocate-on-Record Supreme Court of India) 07 December 2010

Dear Querist,

Facts presented are not clear.

Since merger has taken place between Co. x and Co. y as per duly approved Scheme of Reconstruction, the RoC/Regulatory authority i.e. RBI/SEBI must have been accordingly apprised of. And as per law, process thereafter shall be guided by the respective laws.

Please provide more facts to understand the case and advice accordingly.

mukesh (auditor) 08 December 2010

Sorry for the ambiguity. I am talking about registration under vat act of relevant states and implications of merger under vat act of relevant states of maharashtra (A) & West Bengal (B). The merger is approved with retrospective effect when vat returns are filed by both the companies in their individual names in states in which they are operating. What procedure to be followed after merger order from high courts in states where both companies have registration and in the state where only merged company has registration under vat acts.

Looking forward to your guidance.

Thanks.