So the transferor organization ought to orchestrate to keep up the unit and number in help on the compelling date who will get moved to the transferee free sites for sugar babies
7. Affirmation of Dividend: Transferee Company
Profit pronounced by the transferee organization, after the Appointed Date, is payable to individuals from the transferor organization moreover. Furthermore, this doesn’t abuse the arrangements of segment 205 of Companies Act, 1956. While it is actually the case that except if court authorizes the plan, it would not become successful, yet once the court concurs its authorization, it would get viable from the Appointed Date. So the investors of Transferor Company become investors of Transferee Company from ‘Named Date’ itself. Consequently they are qualified for any profit pronounced by Transferee Company after ‘Designated Date’.
As this is a touchy issue to the investors, any uncertainty in such manner could be tried not to by give a condition in the Scheme expressing that the transferor organization’s investors ought to be qualified for such profit, rights and different advantages as and from ‘Record Date’ to be fixed by the Board of transferee organization upon conspire getting viable according to the court authorize..
8. Profit, Profit And Bonus/Rights Shares: Transferor Company
The Transferor Company ought not without the earlier composed assent of the Transferee Company proclaim any profit, regardless of whether between time or last, for the monetary year finishing on or after the Appointed Date and resulting monetary years.
The Transferor Company ought not issue or dispense any Bonus Shares or Right Bonus Shares out of it’s Authorized or unissued Share Capital on or after the Appointed Date.