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Transfer Of Dissolved Society's Assets To Successor Company Valid: Allahabad High Court
['Upasna Agrawal']
Supreme Court - High Court - Legal Breaking News | Live Law India
The Allahabad High Court has held that Section 13 of the Societies Registration Act, 1860 places no embargo on a society resolving to dissolve itself and to transfer its property to a company incorporated under Section 25 of the Companies Act, 1956.
It held that once not less than three-fifths of the members resolve upon dissolution, the society stands dissolved forthwith, and the acquisition...