by Majmudar & Partners | May 25, 2023 | Tax
Download .pdf In a recent ruling, the Hyderabad Income Tax Appellate Tribunal (the “Tribunal”) has, in the Vertex Projects case, held that if shares are received in a scheme of amalgamation by an amalgamated company being less than the fair market value (“FMV”), then...
by Majmudar & Partners | May 18, 2023 | Private Equity and Venture Capital, Securities Law
Download .pdf Introduction In a circular issued last month (the “Circular”), the Securities and Exchange Board of India (the “SEBI”) has allowed specific investors to excuse or exclude themselves from any particular investment being made by an alternative investment...
by Majmudar & Partners | May 16, 2023 | Disputes and Arbitration
Download .pdf In a recent ruling, India’s Supreme Court has held that an enquiry or proceeding against an auditor of a company under Section 140(5) of the Companies Act, 2013 (the “Act”) does not terminate upon the resignation of the auditor, and the auditor, if found...
by Majmudar & Partners | May 9, 2023 | Corporate/M&A
Download .pdf In a recent ruling, the Gujarat High Court (the “GHC”) has dealt with five different issues under the Gujarat Stamp Act, 1958 (the “GSA”) and has held that: In a composite scheme of arrangement where undertakings are transferred by way of a merger,...
by Majmudar & Partners | Apr 23, 2023 | Tax
Download .pdf In a recent ruling, India’s Supreme Court (“SC”) has held that the term “management and control” of a company means where the head, seat and the directing power of the business affairs lie. It is not merely theoretical or de jure control and power,...
