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- Implications of Appointed Date in the Scheme of Merger - by Submitted on Oct 03, 2019 from hu ConsultancySection 232(6) of the Companies Act, 2013 states that the appointed date with respect to a scheme of merger and amalgamation means the date from which the scheme becomes effective. That means the appointed date and effective date of the scheme has to be one and same. Since there needed some ...
Views: 465 - IMPORTANCE OF APPOINTED DATE & EFFECTIVE DATE IN RESTRUCTURING - by Submitted on Jun 02, 2017 from hu ConsultancyIntroduction: In the case of merger and demerger, two dates are crucial, the "Appointed Date" and secondly the "Effective Date". Corporate managers spend a lot of time to plan the exact timing of these dates. ‘Appointed Date’ is normally arranged to secure the interests & objects of the ...
Views: 1031 - Inbound M&A Deals on I-T Department’s Radar - by Submitted on Mar 31, 2017 from hu ConsultancyThe Tax department has fixed its eagle eye on yet another target — this time it's inbound mergers and acquisitions (M&As). Forty companies are said to have received notices and the total tax demand could exceed Rs 4,000 crore, according to estimates. Income tax isn't levied on inbound foreign ...
Views: 654 - Indian companies look at South East Asia for M&As - by Submitted on May 16, 2019 from hu ConsultancyIndian companies are increasingly looking at South East Asian countries for business and mergers and acquisitions (M&As) because there is a good strategic and cultural fit with companies in the region. Indian companies in sectors such as healthcare, consumer and industrials have done M&As with ...
Views: 569 - IndusInd-Bharat Financial: Reaching bottom-of-the-pyramid customers - by Submitted on Oct 16, 2017 from hu ConsultancySignaling consolidation in the private banking space, IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL), formerly known as SKS Microfinance, are in the final stage of merger talks. The two companies have signed an exclusivity agreement to hammer out a deal before the end of this financial ...
Views: 888 - Infosys’ Sikka Buys Panaya For a Giant Leap - by Submitted on Sep 09, 2016 from hu ConsultancyIn February 2015, Infosys bought Panaya Inc., a leading provider of automation technology for large scale enterprise software management, for an enterprise value of $200 million (Rs 1,244 crore). The payment was upfront without any earn-outs and in the form of cash. The acquisition is in line ...
Views: 758 - Insolvency & Bankruptcy Code, Section 238: Exploited or Rightly Used - by Submitted on Jan 19, 2018 from hu ConsultancySection 238 of the Insolvency and Bankruptcy Code, 2016, which is termed as a non-obstante clause is once again came into picture in the case of Power Grid Corporation of India Ltd. Vs Jyoti Structures Ltd, after its detailed analysis made by judiciary in the matter of Innoventive Industries ...
Views: 780 - IS ALL ADVANCE AMOUNTS TO LOAN? - by Submitted on Oct 13, 2017 from hu ConsultancyTerm loans and advances as defined in Banking Regulation Act can be used interchangeably. The act defined “secured loan or advance" means a loan or advance made on the security of assets the market value of which is not at any time less than the amount of such loan or advance, and defined ...
Views: 842 - Is Slump sale is better option than piecemeal Liquidation? - by Submitted on Feb 21, 2018 from hu ConsultancyThe Insolvency and Bankruptcy Code 2016 aims at reviving companies that are going for liquidation. If reviving the company is not possible, the code will enable to liquidate the company in a judicial and rational manner so that it serves the interests of all stakeholders and the public at large. ...
Views: 727 - J. R. D. TATA - by Submitted on Nov 03, 2016 from hu ConsultancyJehangir Ratanji Dadabhoy Tata (JRD) (29July 1904-29 November 1993) was an avid aviator and business tycoon. He was the Chairmen of Tata and Sons. Under his chairmanship, the assets of the Tata Group grew from US$100 million to over US$ 5 billion. He started with 14 enterprises under his ...
Views: 529 - Jet Airways Cross Border Insolvency Proceedings - by Submitted on Nov 28, 2019 from hu ConsultancyIn the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Ltd., the question came up for discussion on the validity and priority of the Insolvency proceedings being conducted at a country outside India, where the CIRP for Jet Airways is already initiated under Indian ...
Views: 603 - Jet Airways goes to NCLT - by Submitted on Aug 19, 2019 from hu ConsultancyA consortium of 26 bankers led by State Bank of India (SBI) have finally decided to take the grounded Jet Airways to bankruptcy court after failing to revive the company and find buyers. Insolvency proceedings have been initiated against debt-ridden Jet Airways, which stopped flying on April 17. ...
Views: 623 - Key Due Diligence Activities In A Merger And Acquisition Transaction - by Submitted on Jul 12, 2017 from hu ConsultancyProper due diligence at every stages will make the M&A a grand success By planning the merger activity carefully and analyzing every issue that may arise, the target company will be better prepared to successfully consummate a sale of the company. The buyer is concerned not only with the ...
Views: 869 - Kokuyo Camlin Has Broad Shoulders But a Narrow Hip! - by Submitted on Aug 24, 2016 from hu ConsultancyIn May 2011, Kokuyo S&T Co. Ltd. a consolidated subsidiary of Kokuyo Co. Ltd. ("Kokuyo") entered into an agreement with the promoters of Camlin Limited to purchase majority of Camlin shares (50.3% stake for over Rs. 366 crore in three tranches) after which the Indian firm was converted into a ...
Views: 578 - L&T attempts hostile takeover of Mindtree - by Submitted on May 29, 2019 from hu ConsultancyThe country’s largest engineering and construction conglomerate Larsen and Toubro (L&T) has now been cast as an avaricious acquirer after it made hostile bid to take over Bengaluru-based I-T services company Mindtree. As a first move to one of the largest hostile takeovers India Inc. has seen, ...
Views: 629 - Legal Aspects of ECommerce - Part I - by Submitted on Sep 06, 2016 from hu ConsultancyECommerce There is no standard definition of the word ‘E-commerce’. It generally means a method of conducting business through electronic means rather than through physical means. Or in other words, buying and selling products through the digital medium, rather than from a brick-and-mortar ...
Views: 717 - M&M Two Wheeler Expansion - by Submitted on Mar 20, 2017 from hu ConsultancyMahindra & Mahindra Ltd approved a scheme of demerger of the Two Wheeler undertaking of Mahindra Two Wheelers Limited and transfer and vesting thereof as a going concern into M&M. Mahindra & Mahindra Limited (M&M) is the listed company, engaged in the business of sale of tractors, general ...
Views: 617 - M/s Mother hospital Private Limited Vs. Commissioner of Income Tax, Trichur - by Submitted on Jun 15, 2017 from hu ConsultancyFacts of the Case The appellant-assesse, is a private limited company running a super specialty hospital in Thrissur, Kerala. The said Company has 7 shareholders all belonging to the same family. Earlier a partnership firm was formed among 5 out of the 7 shareholders of the Company holding ...
Views: 685 - M/s. New Delhi Television Ltd. Vs. ACIT - Case Law - by Submitted on Sep 11, 2017 from hu ConsultancyFacts of the Case NDTV along with its Subsidiaries entered into an agreement dated 23.05.2008 with NBC Universal Inc and Universal Studios International BV, as a result of the same, INR 642.54 cr (9,15,498 Shares @ INR 7015.05 per share) was received by NNIH, for allotting shares to NBC ...
Views: 740 - Mahindra & Mahindra Bets big on agri-equipment market - by Submitted on Feb 08, 2017 from hu ConsultancyTurkey is ranked among the largest farm equipment markets globally and is a leading tractor market in Europe. Despite Turkey being part of the Syrian war at the moment, the farm equipment market is still largely unaffected. Mahindra is betting high on this market and claimed there will be no ...
Views: 575 - Management Buy-out - by Submitted on Aug 18, 2018 from hu ConsultancyWhat is Management Buy-out (MBO): In an ideal MBO, financial institutions or other fund lending institutions act like venture capitalist and support management of the company in buying out stakes from the promoter(s) of the company. This changes the control of the business. The entire ...
Views: 647 - Mastek Demerges Insurance Business - by Submitted on Sep 16, 2016 from hu ConsultancyIT Company Mastek Limited, a BSE-NSE Listed Company, had demerged its insurance products and service business into a separate listed company. Mastek is an IT solutions player with global operations providing new technology and intellectual property led enterprise solutions to insurance, ...
Views: 482 - Mastek Demerges Insurance Business - by Submitted on Oct 24, 2016 from hu ConsultancyIT Company Mastek Limited, a BSE-NSE Listed Company, had demerged its insurance products and service business into a separate listed company. Mastek is an IT solutions player with global operations providing new technology and intellectual property led enterprise solutions to insurance, ...
Views: 620 - Merger & Acquisition – The Telecom Way - by Submitted on Oct 27, 2017 from hu ConsultancyA panel of Ministers called the EGoM (Empowered Group of Ministers) approved the final draft of the much-awaited merger & acquisition (M&A) guidelines for the Telecom sector which are likely to support the consolidation of the Telecom companies. The M&A guidelines will now be sent to the Union ...
Views: 725 - Merger driven by Venture Capital - by Submitted on May 28, 2024 from hu ConsultancyThe Board of Directors of JHS Svendgaard Laboratories Limited announced merger of the company with private company Vedic Cosmeceuticals Private Limited. As acclaimed by the management, the product portfolio of Vedic Cosmeceuticals Private Limited is complimentary to that of JHS Svendgaard ...
Views: 237 - Merger of four loss-making PSU banks on the cards - by Submitted on Jul 19, 2018 from hu ConsultancyTo order to bring in efficiency in the functioning of loss-making public-sector banks (PSBs), the government is considering merging at least four such banks because of rising bad loans. The four banks are Oriental Bank of Commerce, Bank of Baroda, Central Bank and IDBI Bank with a combined loss ...
Views: 617 - MERGER OF LLP INTO COMPANY - by Submitted on Aug 20, 2018 from hu ConsultancyProvisions of Compromises, Arrangements, Amalgamation and Reconstruction are dealt in the Companies Act, 2013 under sections 230-234. Amalgamations are also treated in the LLP Act. 2008. But there is no explicit mentions for dealing with merger of LLP into Company or other way around. We look at ...
Views: 701 - Microsoft’s new connection : Linkedin - by Submitted on Oct 21, 2016 from hu ConsultancyIn a colossal deal, Microsoft Corp. has entered into a definite agreement to purchase LinkedIn Corporation for $196 per share in an all-cash transaction valued at $26.2 billion. Post transaction LinkedIn will retain its distinct brand, culture, and independence. Here are a few of the important ...
Views: 646 - NCLT Impact On M&A Procedure - by Submitted on Jun 12, 2017 from hu ConsultancyThe Companies Act 2013 (New Act), which was substantially made effective from April 1, 2014, has the potential and capability to be a historic milestone for implementing Mergers & Amalgamations(M& A). So far, the provisions relating to M&A under the New Act are yet to be notified. These are ...
Views: 723 - NCLT PUTS INNOVENTIVE INDUSTRIES ON LIQUIDATION COUNTDOWN - by Submitted on Oct 18, 2017 from hu ConsultancyInnoventive Industries, India’s first company to be tried under the new Insolvency and Bankruptcy Code, has failed to finalize a debt resolution plan in the stipulated six months, prompting the National Company Law Tribunal (NCLT) to extend the deadline by another three months – the maximum ...
Views: 847 - Non-Core Exit for Reliance, Opportunity for Birla - by Submitted on Oct 20, 2016 from hu ConsultancyToday the cement industry is going through a consolidation phase with large Indian cement players vying for smaller ones and foreign cement majors acquiring controlling stake in Indian majors. In a move to strengthen its position, Birla Corporation announced an acquisition of the entire cement ...
Views: 935 - NSEL Investor Petitions: Sebi Probing FTIL, Promoters - by Submitted on Sep 07, 2016 from hu ConsultancyThe Securities and Exchange Board of India (Sebi) has told the high court at Mumbai that it is investigating complaints against Financial Technologies (FTIL) and connected entities and promoters, including founder Jignesh Shah. The complaints by investors of scam-hit National Spot Exchange ...
Views: 834 - Once a promoter always a promoter? - by Submitted on Nov 15, 2017 from hu ConsultancyShareholders in a listed company are classified under two broad categories, i.e. those that belong to the promoter/promoter group and those shareholders who are members of the public with no family or formal business ties with the promoter/promoter group. SEBI vide Regulation 31A under Chapter ...
Views: 862 - Optimal Exit Strategy for a Business Owner - by Submitted on Jun 09, 2017 from hu ConsultancyExit Planning is a process involving developing and planning an optimum time to exit a business with the objective to achieve the maximum return out of the accumulated wealth made over the tenure of the business. I. Planning an exit strategy: If you are setting up a business you will have ...
Views: 703 - Pharma is a Sweet-Spot in Global Acquisitions in 2015 - by Submitted on Oct 19, 2016 from hu ConsultancyThe year 2015 created a record in terms of global mergers and acquisitions (M&As). The total value touched $5.03 trillion, a massive rise of 37% ($3.67 trillion) from 2014, according to data from Dealogic. In fact, the total value of deals in 2015 was more than double of 2009, the year ...
Views: 917 - Principles for Setting Mergers and Acquisition Agreements in Perfect Order - by Submitted on Feb 20, 2017 from hu ConsultancyThe merger agreement sets forth, preconditions to closing, closing procedures, and post-closing obligations Moreover, when one is dealing with billions of dollars, every aspect of the deal and the risks must be noted down in the document. In a merger or acquisition transaction, there are ...
Views: 584 - Public Sector Bank Mergers- A myth becoming a reality? - by Submitted on Nov 24, 2017 from hu ConsultancyAbout thirteen years back when an article was penned in this magazine ( ‘Bank Mergers - The fall out and shape of things to come’ –M&A Critique Issues October to December 2004), it was foretold that eventual mergers of Public Sector Banks (PSBs) in India was an economic necessity for becoming ...
Views: 849 - Quikr quickly climbs the M&A ladder - by Submitted on Jun 17, 2017 from hu ConsultancyIn the Indian e-start-up business space, Quikr has become everyone's envy. The pace at which it is acquiring companies to grow and diversify is remarkable. Since January last year, it has acquired around 8 companies, and the latest, it is buying two arms of HDFC's brokerage business – HDFC ...
Views: 946 - RBI Allows FDI In LLP - by Submitted on Sep 17, 2016 from hu ConsultancyRBI welcomes Foreign Direct Investment in LLPs In a big benefit move, the Reserve Bank of India (RBI) has allowed foreign direct investment in limited liability partnerships. The LLP Act 2008 allowed foreign nationals and foreign LLPs (Limited Liability Partnerships) to become a partner in ...
Views: 466 - RBI Allows FDI In LLP - by Submitted on Oct 17, 2016 from hu ConsultancyRBI welcomes Foreign Direct Investment in LLPs In a big benefit move, the Reserve Bank of India (RBI) has allowed foreign direct investment in limited liability partnerships. The LLP Act 2008 allowed foreign nationals and foreign LLPs (Limited Liability Partnerships) to become a partner in ...
Views: 545 - RBI rejects proposed Lakshmi Vilas Bank-Indiabulls Housing Finance merger - by Submitted on Nov 26, 2019 from hu ConsultancyAfter a lot of scrutiny, Reserve Bank of India (RBI) finally rejected the proposed merger between Chennai-based Lakshmi Vilas Bank (LVB) and Gurugram-based Indiabulls Housing Finance Limited (IBHFL). The proposed merger plan was crucial for Lakshmi Vilas Bank as it would have helped it raise ...
Views: 455 - Redemption Opportunity for Disqualified Directors - by Submitted on Apr 13, 2018 from hu ConsultancyIn September 2017, Ministry of Corporate Affairs (MCA) identified many directors associated with the companies that had failed to file financial statements or annual returns for a continuous period of three financial years 2013-14, 2014-2015 and 2015-2016 and consequently they became ...
Views: 803 - REDUCTION OF SHARE CAPITAL: SAGAR SOYA - by Submitted on Jun 21, 2018 from hu ConsultancySection 66 of the Companies Act, 2013 allows companies to reduce their share capital. The scheme of Reduction of share capital is undertaken by companies in the following manner: Company can extinguish or reduce its liability on its unpaid share capital. Company can extinguish or reduce its ...
Views: 585 - Reliance Capital: Renewing focus on Real Estate, Banking services - by Submitted on Mar 27, 2017 from hu ConsultancyThe government’s unique mission -- Housing for All by 2022 --- has led to creation of more focus entities in the industry with plans of expansion to grab the opportunities that are going to come. As a move in that direction, Reliance Capital has announced that the Board of Directors has approved ...
Views: 686 - Retail sector to drive M&A growth - by Submitted on Feb 21, 2019 from hu ConsultancyWith changing demographic profile of India, rapid urbanisation, spread of digital payments and increasing purchasing power, the retail sector is poised for a quantum leap. India is becoming one of the largest preferred retail destinations globally. The early indications are showing up now. In ...
Views: 549 - RIL's e-commerce push: Will Reliance Retail be the next Jio? - by Submitted on Jun 21, 2019 from hu ConsultancyReliance Industries Limited (RIL) is a Fortune 500 company and the largest private sector corporation in India. Reliance’s products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums. The company has evolved from being a textiles and ...
Views: 478 - Sebi May Tweak Listing Norms For Start-ups - by Submitted on Sep 08, 2016 from hu ConsultancySecurities and Exchange Board of India (Sebi) is all set to introduce new guidelines for technology-related start-up companies. Sources say Sebi is likely to consider increasing the portion of the issue size allocated to qualified institutional buyers (QIBs) and reduce the minimum number of non- ...
Views: 470 - Sebi to Act Against Companies With No Woman Director - by Submitted on Sep 09, 2016 from hu ConsultancyMarket regulator Sebi will take 'necessary' action against listed firms which fail to appoint at least one woman director on their Boards by the end of this month, Parliament was informed today. The capital markets watchdog had issued guidelines in February last year asking companies to ...
Views: 469 - Shares with Superior Voting Rights - by Submitted on Sep 25, 2019 from hu ConsultancyAn equity share with differential rights is like an ordinary equity share, but it provides more or fewer voting rights to the shareholder. The difference in voting rights can be achieved by increasing or reducing the degree of voting power. Companies Act, 2013 allows shares with superior and ...
Views: 540 - Shasun Pharmaceuticals And Strides Arcolab Ltd Merge - by Submitted on Oct 15, 2016 from hu ConsultancyShasun Pharmaceuticals has got the approval from Madras High Court for Scheme of Amalgamation with Strides Arcolab Ltd. The Competition Commission of India (CCI) has issued its approval for the proposed merger of drug manufacturers Shasun Pharmaceuticals Ltd and Strides Arcolab. The merger was ...
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