incorporate a new section in the Act, namely section 529A (vide clauses 4, 5 and 6 of the Bill) 3. Section 396 of the Companies ... existing provisions of section 394 of the Act under which the High Court orders amalgamation. Section 396 of the Act is proposed to be amended
Bank”], stressing that amalgamations that are made under
Section 45 of the Banking Regulation Act, like amalgamations made
under Section 396 , can be made ... that Section 396 of the Companies Act is such
a law.
22. Section 396 of the Companies Act, 1956, reads as under:
“396. Power
only if the amalgamation involves two or more
healthy companies. Mr. Salve submits that if power to amalgamate
under Section 396 is to be used ... opportunity to institute appeal
under Section 396 (3A) . Even factually, no such denial is
demonstrated. Section 396 (3A) entitles "any person aggrieved
only if the amalgamation involves two or more
healthy companies. Mr. Salve submits that if power to amalgamate
under Section 396 is to be used ... opportunity to institute appeal
under Section 396 (3A) . Even factually, no such denial is
demonstrated. Section 396 (3A) entitles "any person aggrieved
only if the amalgamation involves two or more
healthy companies. Mr. Salve submits that if power to amalgamate
under Section 396 is to be used ... opportunity to institute appeal
under Section 396 (3A) . Even factually, no such denial is
demonstrated. Section 396 (3A) entitles "any person aggrieved
only if the amalgamation involves two or more
healthy companies. Mr. Salve submits that if power to amalgamate
under Section 396 is to be used ... opportunity to institute appeal
under Section 396 (3A) . Even factually, no such denial is
demonstrated. Section 396 (3A) entitles "any person aggrieved
only if the amalgamation involves two or more
healthy companies. Mr. Salve submits that if power to amalgamate
under Section 396 is to be used ... opportunity to institute appeal
under Section 396 (3A) . Even factually, no such denial is
demonstrated. Section 396 (3A) entitles "any person aggrieved
will turn to the relevant sections occurring in that Chapter. Section 391 , which corresponds to section 206 of the English Companies Act, 1948, deals with ... amalgamation, Pennington in his Company Law, 2nd edition, at page 739, calls it an indirect way of carrying out an amalgamation. Section 396
relation to amalgamations under Section 396 of the Companies Act, what was contemplated under Section 396 has been incorporated in Section 72A. But that does ... other provisions with regard to the amalgamations under the Companies Act , the amalgamation ordered under Section 396 with a specific provision about the treatment
dated
02.05.2008 approved the amalgamation of BRL with SAIL and
permitted them to initiate the process of amalgamation under Section
396 of the Companies ... vide letter dated 02.05.2008, amalgamation of
BRL with SAIL was approved and the two companies-initiated
amalgamation proceedings under Section 396 of the Companies
