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</html>";s:4:"text";s:9829:"(b) Section 394 and 395 provide for a scheme of Reconstruction and Amalgamation without winding up . ‘Amalgamation’ is a blending of two or more existing undertakings into one undertaking, the shareholders of each blending company becoming substantially the shareholders in the company … 2. Amalgamation 2. Ans. It serves as an apt method of corporate restructuring to bring about a change for the better and make business environment competitive. a new … 15.1. ... •Amalgamation of 2 or more companies in Singapore is subject to the order of ... companies shall be converted into the shares and rights provided for in the amalgamation proposal. Accounting for Amalgamations Introduction This standard deals with accounting for amalgamations and the treatment of any resultant goodwill or reserves. Powers And Functions Of Court During Reconstruction Of Company The transferor companies lose their identity to form a new company (transferee company). 2. amalgamation or reconstruction of companies under Section 394 of the Companies Act, 1956 or under the order of the Reserve Bank of India under section 44A of the Banking Regulation Act, 10% of the aggregate of the market value of the shares issued or allotted in exchange or otherwise and the amount paid for such amalgamation. (1) Where an application is made to the Court under section 391 for the sanctioning of a compromise or arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown … External Reconstruction is a process in which the company’s financial affairs are wound up, and a new company is formed to take over the assets and liabilities of the existing company, after the reorganization of the financial position. From the point of view of an accountant, external reconstruction is similar to amalgamation in the nature of purchase; the books of the transferor company are closed and in the books of the transferee company, the purchase of the business is recorded. In amalgamation, two or more companies are fused into one by merger or by one taking over the other. SECTION I - AMALGAMATION AND EXTERNAL RECONSTRUCTION Introduction 2 1A. Difference between External Reconstruction and Amalgamation 1 In external reconstruction only one company is involved while in amalgamation two or more companies are involved. The amalgamation can be done by the scheme of undertaking- here the new entity undertakes the whole asset of the... 2. The above companies have agreed to amalgamate into XY Ltd. a) X Ltd. holds 8,000 shares in Y Ltd. at Rs. Meanings 2 1B. This document is highly rated by B Com students and … Absorption 3.1 Internal Reconstruction 3.2 External Reconstruction Definition. In Amalgamation, two or more companies combine to create a new company. When a company undergo amalgamation or reconstruction, the shares or the whole business which is collectively known as the assets of the company, may be transferred by the owner of the company to the recipient. It is a process that involves combining of two or more companies as either absorption or as blend. 1. d) Take over. Explain the term Amalgamation Absorption & Reconstruction Amalgamation: When a new company (Amalgamated company/purchasing company) is formed to take-over the business of two or more existing companies (amalgamating company/vendor company), it is called amalgamation. For e.g. Main Difference. 1. Prior to 1st April 1995, the accounting procedures for amalgamation were under three different treatment, that is, Amalgamation, Absorption and Reconstruction of companies. Prior to 1st April 1995, the accounting procedures for amalgamation were under three different treatment, that is, Amalgamation, Absorption and Reconstruction of companies. May 23, 2021 - Introduction to Amalgamation - Amalgamation of Companies, Advanced Corporate Accounting B Com Notes | EduRev is made by best teachers of B Com. c) Each share in Y Ltd. is valued at Rs. ‘Amalgamation’ is a blending of two or more existing undertakings into one undertaking, the shareholders of each blending company becoming substantially the shareholders in the company … In external reconstruction, one existing company goes into liquidation and a new company isformed to take overthe former company. Purchase Consideration (PC) 5 1D. Companies may combine in following ways I. Absorption II. Both reconstruction as well as Amalgamationrequire similar legal procedures and schemes canbe carried out :(a) Section 494 and 507 provide for Reconstruction or Amalgamation of companies by winding up the company voluntary . Amalgamation is when two or more companies merge. INTRODUCTION: The subject assigned to me is very vast, interesting and timely and perhaps not susceptible to any precise definition. l To acquaint students with the accounting procedure and in-depth knowledge of preparation of various accounts l To develop an understanding of the company regulations among the students Sr. No. For e.g. SECTION 232. Differences between absorption and external reconstruction … 10 each. Companies Act, 1956. Companies Act, 1956. Internal reconstruction can be defined as the reorganization of the company, without liquidating the existing company and forming a new one. Amalgamation is defined as a simple arrangement or reconstruction of business. Similarly, the shareholders of the old entity turn out as the … Amalgamation is the combination of two or more companies into a new entity by combining the assets and liabilities of both entities into one. Chapter 5: Amalgamation of Companies; Chapter 6: Internal Reconstruction; Chapter 7: Liquidation of Companies; Appendix: Schedule-III to The Companies Act, 2013; Module-3 Initial Pages; Chapter 8: Financial Statements of Banking Companies Unit 1: Some Relevant Provisions of The Banking Regulations Act, 1949 competing in similar business niche liquidate themselves to form a These sections amongst others, … It is none the less a reconstruction because all the assets do not pass to the new company, or all the shareholders of the transferor company are not shareholders in the transferee company, or the liabilities of the transferor company are not taken over by the transferee company. Absorption: A New Company X is formed to take over the business of an existing company Y which is wound up. Amalgamation of companies results in combination of companies, but external reconstruction does not result in any such combination. Section 178. The main objective of amalgamation is to achieve synergetic benefits which arise, when two companies can achieve more in combination than when they are individual entities. Amalgamation It is a combination of two or more businesses into a single business enterprise. as Amalgamation/ Absorption/ External reconstruction. SECTION 232. Ans. In computing purchase consideration by ‘net asset method’ all assets including fictitious assets should be considered. The upcoming discussion will update you about the difference between External Reconstruction and Amalgamation. External reconstruction Provisions for facilitating reconstruction and amalgamation of companies. It is the conversion of two companies and two balance sheets into one company and one (combined) balance sheet. But section 394 of the Companies Act 1956, states that amalgamation refers to the merger of one company with another company to facilitate reconstruction and merger. MERGER AND AMALGAMATION OF COMPANIES [Effective from 15th December, 2016](1) Where an application is made to the Tribunal under section 230 for the sanctioning of a compromise or an arrangement proposed between a company and any such persons as are mentioned in that section, and it is shown … Methods of accounting for amalgamation are Pooling of interest Method and Purchase Method. In this process, the companies which go into liquidation is known as Amalgamating Companies or Vendor Companies whereas the company which is newly formed is referred to as the Amalgamated Company or Vendee Company. Amalgamation, Absorption & External reconstruction State whether TRUE or FALSE 1. Reconstruction or Amalgamation of Companies Buyer’s Stamp Duty (BSD) and Seller’s Stamp Duty (SSD) reliefs are applicable to transfer of undertaking or shares in respect of a scheme for the reconstruction or amalgamation of companies if the relief conditions are met. It is for the mutual advantage of the acquirer and acquired companies. Amalgamation of companies involves liquidation of two or more companies, while external reconstruction involves liquidation of only one company, 2. If the Company undergoes any process of reconstruction or amalgamation (whether or not involving the liquidation of the Company) and the Executive is offered employment by the successor or proposed successor to the Company or any Group Companies on terms which as a whole are no less favourable than those under … Definitions as per Accounting Standard 14 (AS‐14) a. Amalgamation –means an amalgamation pursuantto the provisions ofthe Companies Act 1956 or any otherstatute whichmay be applicable to companies. Merger refers to two companies joining together to form one company. Section 15 of the Stamp Act provides relief from stamp duty in connection with a plan for the reconstruction or amalgamation of companies if the following conditions (among others) are met. Liquidation of Companies. MERGERS AND AMALGAMATION Authored by: Siddhartth Singh* & Abhay Rajput** * 4th Year BA LLB Student, Dr. Ram Manohar Lohiya National Law University, Lucknow ... company secretaries play a predominant role in devising, designing, executing and completing the restructuring process. If a new co XY Ltd. Is formed to take over the business of two existing companies, X Ltd. and Y Ltd. ,it is a case of amalgamation ";s:7:"keyword";s:44:"amalgamation and reconstruction of companies";s:5:"links";s:1253:"<a href="https://api.duassis.com/storage/86fviuv/street-art-bubble-writing">Street Art Bubble Writing</a>,
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