If no objections are submitted during the period of notice, a resolution of merger shall be considered final and the incorporating company or the new company, as the case may be, shall replace the merged companies in all their rights and liabilities from the date of registration of the data of the companies in the records of the incorporating company if the merger is effected by way of incorporation, or from the date of registration of the new company with the Registrar if the merger is effected by way of consolidation and the same shall be within the limits agreed in the merger contract without prejudice to the rights of the creditors.
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