alleryStart learning →Shares held by the transferee in its own name after a s.233 merger are treated how?
ACancelled or extinguished
BSold to the public
CHeld as treasury stock
DGifted to employees
Answer & Solution
Correct answer: A. Cancelled or extinguished
Section 233(10) bars self-holding and the shares are cancelled or extinguished.
Keep practising Compromises, Arrangements and Amalgamations
Browse all Compromises, Arrangements and Amalgamations questions for CA Final, or explore more Law topics.
Related questions
Under s.240, liability of officers in default for offences before a merger does what afterUnder s.238(1)(b), every offer must state what steps the transferee has taken about what?Under s.238(1)(c), a circular offering a share transfer scheme must be presented to whom fUnder s.237(3), a member whose rights in the transferee company are less is entitled to whEach section 237 order must be laid before whom after being made?A person aggrieved by compensation assessed under s.237(3) appeals to whom within 30 days?Who may notify an order for amalgamation in public interest under s.237?Under s.236(7), the right of heirs of a deceased minority holder to sell continues for how