Thursday, June 15, 2006


No stamp duty on Merger : The concept of transfer cannot be applied to the case of amalgamation and/or compromise governed simply by Section 394 of the Companies Act,1956.The transfer of assets and liabilities of the transferor company to the transferee company takes place on an order made under section (1) of section 394 by operation of sub-section (2) thereof and is not liable to
stamp duty. Madhu Intra Ltd. & Ors Vs. Registrar Of Companies & Ors [(2006) 130 COMP CAS 510(CAL-DB)]

Maruti Limited & ORS [128(2006) Dlt 425] : Sec.10F, 397 and 398 - Petition alleging Oppression and Mismanagement - CLB found no merit  CLB directed the purchase of minority shares by majority - Whether the CLB is correct in arriving at such finding and giving such direction - Held by Delhi High Court, Yes.

Company under liquidation - ‘Rights of Landlord’ : The petitioner landlord had rented out his premises to a company that went into liquidation. The Official liquidator took possession of the
premises and kept it under his lock and key. The company did not need the premises. Landlord was also not getting his rent. Therefore,he petitioned the company's court for handing over of his property to him- Shivkaran Buhadia Vs. Official Liquidator [(2006) 130 comp Cas 592 (Raj)]


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