Group items matching

in title, tags, annotations or url

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.

The shareholding pattern post amalgamation may vary based on the number of shares tendered by public in the open offer to be launched by Birlasoft's promoters and KPIT's promoters. That means the Promoters Shareholding post amalgamation includes 5,13,49,673 Equity Shares, fully tendered by public shareholders in open offer.

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.

Merger of DCCL into MCIL with appointed date October 1, 2017 since it is WoS merger there is no consideration, therefore there is no change in shareholding of the company post-merger. The transaction is to consolidate entities under same control however there is no immediate gain for minority shareholders.

It seems that finally with insertion of new clause and explanation for tax neutral demerger specific for the said transaction in the Income Tax Act 1961, the long pending issue of demerger is taking its shape. The public shareholders who exited on open offer will have some relief due to listing of HPIL.

The Board of Directors of Century Textiles and Industries Limited (Century) had approved a Scheme of Arrangement between the Century, UltraTech Cement Limited (UltraTech), and their shareholders and creditors for the demerger of its cement division into UltraTech.

Pennar Industries Ltd has entered in definitive agreement with a third party for transfer of its entire shareholding held in subsidiary Pending closing of conditions contained in the agreement the accounting effect is not given as disclosed in Dec 2017 quarter results. The PIL will be able to generate cash from the sale of Pennar renewable.

In a move to simplify promoter's holding, Voltamp Transformer Limited ("VTL") announced the amalgamation of promoter entity with VTL. The transaction shall collapse the holding subsidiary structure and simplify promoters' holding.

Reliance Industries announced a share swap in December 2019 with Reliance Retail shareholders mean especially for the employees of Reliance Retail holding about 0.05% shares or restricted shares or restricted stock units under various ESOPs over the years

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.