MACNEILL FINANCIAL SERVICES LTD., IN RE Vs. ABC

JUDGEMENT

(1.) That all the properties, rights and interests of MFSL and MLFSL, specified in the first, second and third parts of the Schedule 'B' and Schedule 'C' hereto, respectively, and all other properties, rights and interests of the MFSL and MLFSL be transferred from the said Effective Date without further act or deed to the Transferee Company and accordingly the same shall pursuant to section 394(2) of the Companies Act, 1956 be transferred to vest in the Transferee Company for all the respective estates and interests of MFSL and MLFSL therein but subject nevertheless to all charges now affecting the same;

(2.) That all the debts, liabilities, duties and obligations of MFSL and MLFSL be transferred from the said Effective Date without further act or deed to the Transferee Company and accordingly the same shall, pursuant to section 394(2) of the Companies Act, 1956 be transferred to and become the debts, liabilities, duties and obligations of the Transferee Company;

(3.) That all proceedings and/or suits and/or appeals now pending by or against MFSL and/or MLFSL be continued by or against the Transferee Company;