According to Section 232(3) of the Companies Act, what can the Tribunal order after satisfying itself that the procedure has been complied with?

Sanction the scheme and dissolve the transferor company

Sanction the scheme and appoint a new board of directors

Sanction the scheme and allot shares to shareholders of the transferor company

Sanction the scheme and approve the merger or amalgamation

In the context of a merger or amalgamation scheme, what documents are required to be circulated for a members/creditors meeting?

Draft of the proposed terms of the scheme and the report of the expert

Draft of the proposed terms of the scheme and the last annual accounts

Draft of the proposed terms of the scheme and a valuation report

Draft of the proposed terms of the scheme and a report explaining the effect on various stakeholders

What is the consequence of the registration of a scheme under Section 233(8) of the Companies Act?

The transferor company is wound up without dissolution

The transferor company continues its operations independently

The transferee company is dissolved

The transferor company is dissolved without winding up

What is the key requirement for a company to be considered a "small company"?

Paid-up share capital not exceeding fifty lakh rupees

Turnover not exceeding twenty crore rupees

Paid-up share capital not exceeding five crore rupees

Turnover not exceeding two crore rupees

What is the primary condition for a foreign company to merge into a company registered under the Indian Companies Act?

Approval from the Securities and Exchange Board of India (SEBI)

Approval from the Reserve Bank of India (RBI)

Approval from the Ministry of Corporate Affairs (MCA)

Approval from the Foreign Investment Promotion Board (FIPB)

In the context of a scheme of merger or amalgamation, what does a "declaration of solvency" refer to?

A declaration of assets and liabilities of the transferor company

A declaration of goodwill and valuation of assets

A declaration of financial independence by the transferor company

A declaration indicating the company's ability to pay off its debts

What is the primary purpose of filing an application with the Registrar under Section 233(11) of the Companies Act?

To seek permission for the merger or amalgamation

To seek an extension for the implementation of the scheme

To file a declaration of solvency

To update the Registrar about the enhanced authorized capital of the transferee company

What is the significance of the provision in Section 233(10) that prohibits a transferee company from holding any shares in its own name or trust?

To ensure transparency in shareholding

To prevent conflicts of interest

To protect minority shareholders

To ensure effective management of the company

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