reduce the value of the shares from Rs. 10 per share to Re. 1 per share and direct the transfer of the shares ... reducing the value of the share and the direction to transfer the shares at the reduced value of Re. 1 per share. The BIFR
equity shares having a par value of `10/- each and
W.P.(C) 1648/2013 Page 2 of 25
88,25,85,590 zero percent ... allotted 46,307
equity shares, and 88,25,85,590 zero percent CCDs having a face value of
`1.
19. The terms and conditions
2021 & connected matters Page 25 of 53
pledged shares' value would become zero in light of the resolution
process, and (iii) if proceedings
utilizing the
monies for acquisition of shares in the group companies, despite
the fact that the shares could have held no attraction to an
investor ... stated in the assessment
order that the shares were of the value of „few paise or even
zero", the assessee placed no material before
Transferor
Company No.2, (3) Nil ( Zero) equity shares of the Transferee
Company of the face value of Rs.10/- each credited as fully paid ... Transferor Company No.3, (4) Nil (Zero) equity shares of the
Transferee Company of the face value of Rs.10/- each credited as
fully paid
share exchange ratio for amalgamation is
concerned, the Scheme provides that, upon the Scheme finally coming
into effect, the Transferee Company shall issue shares ... have a value less than zero,
the Transferee Company has been recommended to issue one share as
a consideration.
C.P.No.78/2012 Page
Companies Transferee Company
(For every 100 equity shares of Rs. 10 each) (Fully paid up equity shares of Rs. 10 each)
Transferor company ... negative net
worth, hence the value of their shares is taken as zero. Therefore, no shares
will be allocated to the shareholders of transferor company
share exchange ratio for amalgamation is concerned,
the scheme provides that, upon the Scheme finally coming into effect,
the Transferee Company shall issue shares ... company Nos. 1 & 4 have a value less than zero, the
transferee company will issue one share as a consideration to each
shareholder
satisfaction of the
Lender, either cash or such number of
additional listed shares as Security and/or other
Signature Not Verified
Digitally Signed By:SUNIL ... Shares, or
any part thereof, in any manner if the value of
the (listed) Pledged/Charged Shares falls to
97.50% (ninety seven point five zero
account in the
settlement and the entire settlement is on a zero value
basis.
8. The parties have also agreed that the terms agreed
before ... would come into effect from 5th January 2009 (effective date). The
assets, shares, interest and business allocated to the BKS Group from the
effective date
