Group items tagged

In our previous article, we had covered the provisions in the Companies Act which provide mandatory and voluntary ways exit can be given to minority shareholders of unlisted and listed companies. In this, we revisit applicable sections that are updated recently.

There are various circumstances in which the company are left with minority shareholders even in the case of private company or unlisted public company and listed public company which was delisted but all the shareholders did not offer shares in the delisting offer.

Zuari Agro Chemicals Ltd (ZACL), agriculture vertical of ADVENTZ Group, has been facing a lot of operational and legal issues. During this, the group has decided to sell off the fertiliser plant in Goa to its subsidiary's unlisted Joint Venture Paradeep Phosphates Ltd for cash and convertible debentures.

Godawari Power & Ispat Ltd. (GPIL), a listed company, is going to acquire the power undertaking of its unlisted associate company, Jagdamba Power and Alloys Ltd. (JPAL). It is going to be an all stock deal. Earlier in 2018, the companies had tried to amalgamate JPAL into GPIL but the shareholders of JPAL had rejected the scheme. Now in a renewed effort, GPIL has again knocked the doors of JPAL to meet its power needs.