Company Law : Explore the streamlined process for a fast-track merger under Section 233 of the Companies Act, 2013, including eligibility, steps...
Corporate Law : Explore the intricate dynamics of merger and acquisition deals, from initiation to closing, unraveling the steps involved, regulat...
Goods and Services Tax : Learn about the procedures, rules, and practical insights for transferring unutilized Input Tax Credit (ITC) during a demerger und...
Corporate Law : Explore the Basic Fabric doctrine in mergers and amalgamations, highlighted by the Zee-Sony merger case and its legal implications...
Income Tax : Discover key insights on Global Anti-Base Erosion Model Rules (GloBE) for M&A strategies. Learn about Income Inclusion and Underta...
Income Tax : Learn about the merger of trusts under India's tax exemption regimes as proposed in the Finance Bill 2024. Discover the conditions...
Income Tax : Join CA Gaurav Sukhija on Jan 24, 2024, for a 1-hour seminar delving into M&A Tax in India. Explore key objectives, modes, and imp...
Finance : In a ground-breaking deal that underscores the continued expansion and resilience of the hospitality industry, Indian Hotels Compa...
Corporate Law : Finance Ministry is likely to finalise the proposed changes in the takeover code on mergers and acquisitions after a meeting with ...
SEBI : The Securities and Exchange Board (Sebi) of India is unlikely to accept a proposal to lift the size of mandatory open offer arisin...
Corporate Law : Understand the implications of Jaiprakash Industries Ltd. vs Delhi Development Authority judgment on leasehold rights transfer pos...
Income Tax : Read about the ITAT Kolkata case of Popular Complex Advisory Pvt. Ltd. vs. ITO involving TDS credit in amalgamation schemes approv...
Income Tax : Explore case of Virtusa Consulting Services Pvt. Ltd. vs. DCIT in Telangana High Court, where petitioner seeks disposal of a recti...
Income Tax : Landmark case of DCIT Vs Trans Asia Packaging Ltd, where ITAT Delhi provided clarity on transactions post amalgamation under Secti...
Income Tax : ACIT Vs Padma Logistics & Khanij Pvt. Ltd (Madras High Court) The issue under consideration is whether the set off of brought ...
Fema / RBI : Reserve Bank of India has today placed in public domain a draft scheme of amalgamation of The Punjab and Maharashtra Cooperative (...
Fema / RBI : The proposal should be in compliance with the legal requirements, past orders/ rulings of the Courts, if any. The State Government...
Income Tax : Reconstruction or splitting up of a company which ceased to be a public sector company as a result of transfer of its shares by Ce...
Company Law : The Central Government proposes to issue the following Order (presently in the Draft form) causing Amalgamation of National Spot E...
Companies may have to pay stamp duty on mergers and acquisitions in states like West Bengal, which do not have their own Act in this regard. This will happen if the Finance Ministry”s suggestions on amendments to the over-a-century-old Indian Stamp Act are implemented without any change.
The Minister of Corporate Affairs, Shri Salman Khurshid has said that there is no provision under the Companies Act, 1956 for merger of Indian companies with foreign companies. However, a foreign company may merge with an Indian company. Giving this information in written reply to a question in the Rajya Sabha on merger of companies, Shri Khurshid informed the House that as part of Corporate Restructuring, one of the options available to corporate is merger. The corporate resort to merger according to their restructuring plans taking into consideration economics of scale, corporate sustainability and its long term objectives.
The terms merger and amalgamation have not been defined in the Companies Act, 1956 (hereinafter referred to as the Act) though this voluminous piece of legislation contains 69 definitions in Section 2. The concept paper recently issued by the Ministry of Company Affairs, the fate of which is still unknown, contained 100 such definitions but still stopped short of defining merger or amalgamation. The terms merger and amalgamation are synonyms and the term ‘amalgamation’, as per Concise Oxford Dictionary, Tenth Edition, means, ‘to combine or unite to form one organization or structure’.
India is looking to recast provisions relating to mergers and acquisitions (M&As) that require ratification by the Competition Commission of India (CCI). Currently, under the Competition Act, any M&A that results in combined revenue above certain thresholds must first be cleared by CCI, a unit of the ministry of corporate affairs (MCA). The ministry also must first notify regulations regarding M&As before referring them to CCI.
We read a host of data and information on merger and acquisition in 2009. We found global data regarding merger and acquisition and many cases every economy data too. But I am not going to repeat the same old data for any type of analysis. I will try to bring forth the upcoming trend and foresight of the merger and acquisition in 2010 which will derive the growth as well as consolidation of industries across the nations.
Mergers on individual banks will not be forced, and no time frame has been set for the consolidation process in the banking system, financial services secretary R Gopalan said today. Merger of state-run banks should be done with a view to bring in good synergies, on mutual interests of the concerned entities, and government will not compel the consolidation process on individual banks, he said said at a Bancon conference here.
Power is an essential requirement for all facets of our life and has been recognized as a basic human need. It is the critical infrastructure on which the socio-economic development of the country depends. The growth of the economy and its global competitiveness hinges on the availability of reliable and quality power at competitive rates. The demand of power in India is enormous and is growing steadily.
The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies were also mobilizing resources at a scale unimaginable even a decade ago, continuously entering into and bringing new activities into the fold of the Indian economy as well as Internationally.
After a lull, the contentious provisions regarding mergers and acquisitions (M&A’s) of the amended Competition Act is back on the discussion table of the Ministry of Corporate Affairs (MCA). The Ministry is planning to hold a meeting with the new anti-monopoly watchdog the Competition Commission of India (CCI) and the stakeholders in the first week of December to discuss the M&A clauses – Sections 5 and 6 – that are yet to be notified, official sources told to leading business newspaper.
WorldCom was one of the big success stories of the 1990s. It was a symbol aggressive capitalism. Founded by Bernie Ebbers, one of the most aggressive acquirer during the US mergers and acquisitions boom of the 1990s. WorldCom’s asset value had soared to $180bn before the US capital market started witnessing a downtrend.
