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A company ABC Ltd wants to demerge with PQR Pvt Ltd its group company by transferring an undertaking along with all its assets and liabilities. ABC Ltd is a Debt listed company and it has issued debentures in past against the undertaking which will be transferred.
Now in this demerger the debentures issued in the name of ABC Ltd will also be transferred to PQR Pvt Ltd, so the question is that how this change will be intimated to ROC as Form PAS-3 (issue of securities) and Form CHG-9 (creation of charge for debentures) is already filed with ROC by ABC Ltd. ABC Ltd cannot redeem the debentures and satisfy the charge due to insufficient fund. So what are the other ways to intimate ROC for the said change other than the filing of High Court order in (Form INC-28).
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