First discovered on:10:30pm, 11/22/15
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FTIL-NSEL Merger
modernindianeconomy.wordpress.com/2015/11/06/ft... - Details
Naman_Acharya: In regards to NSEL Crisis there are chances of Merger of parent company FTIL with NSEL. NSEL clarifies that this amalgamation would hamper the process of recovery from NSEL Defaulters. According to Section 396 of Companies Act, two private companies...
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In regards to NSEL Crisis there are chances of Merger of parent company FTIL with NSEL. NSEL clarifies that this amalgamation would hamper the process of recovery from NSEL Defaulters. According to Section 396 of Companies Act, two private companies are merged only when it is in public interest. For the purpose of recovery a forced merger where shareholders of company are opposing the decision is bad in intent, law & will have consequences.
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