That means the appointed date and effective date of the scheme has to be one and same. Since there needed some clarity on the subject, the Ministry of Corporate Affairs vide its General Circular dtd. 21.08.2019 has issued clarification on the following issues:
1. Whether it is mandatory to indicate a specific calendar date as 'appointed date' in the schemes referred to in the section.
2. Whether the acquisition date' for thepurpose of Ind-AS 103 (Business combinations) would be the 'appointed date' referred to in section 232(6). We previously looked at the importance of Appointed Date and Effective Date.
Clarification provided by the Ministry
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Denne historien er fra September 2019-utgaven av M & A Critique.
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Cement Sector Consolidation Continues: Orient Cement to be acquired by Adani Group's Ambuja Cement
The shopping spree for the Adani group seems to be unstoppable. Recently, Adani group announced yet another acquisition in the cement space. This time it is Orient Cement Limited.
ITAT held that the reserve created on amalgamation is capital in nature and not taxable as perquisite
Recently, the Income Tax Appellate Tribunal, Mumbai held that the reserve created on amalgamation is capital in nature and not taxable as perquisite.
Mega Consolidation: SeQuent Scientific and Viyash Lifesciences backed by PE Carlyle Group
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Raymond Group continues Segregation of its Business Verticals
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Ultratech Cements adds India Cement in its shopping cart
India's Cement Industry is poised for consolidation. In recent past we have seen multiple large & small acquisitions in cement segment for consolidating positions.
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Arvind Group separates its Advanced Material Business for independent growth trajectory
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Merger for bail-out from debt obligation
Ind Swift Limited (herein after also referred to as 'ISL' or 'Transferor Company') is engaged in the business of manufacturing of Pharmaceutical Products.
Batliboi Ltd. merging its associate company
Batliboi Limited has a history of collaborations with various foreign technical partners and has subsidiaries like Hydraulic & General Engineers Ltd. and Batliboi International Ltd. In March 2024, the board of Directors of Batliboi Limited accorded their approval for the merger of promoter owned private company with itself.
