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[Cites 0, Cited by 0] [Section 395(2)] [Section 395] [Entire Act]

Union of India - Subsection

Section 395(2)(b) in The Companies Act, 1956

(b)any such holder may, within three months from the giving of the notice to him, require the transferee company to acquire the shares in question, and where a shareholder gives notice under clause (b) with respect to any shares, the transferee company shall be entitled and bound to acquire those shares on the terms on which, under the scheme or contract, the shares of the approving shareholders were transferred to it, or on such other terms as may be agreed, or as the [Tribunal] [ Substituted by Act 11 of 2003, Section 41, for " Court" .] on the application of either the transferee company or the shareholder thinks fit to order.