Glenmark Pharmaceuticals Limited, a prominent global pharmaceutical company, undertook the amalgamation of its subsidiaries, Glenmark Generics Limited and Glenmark Access Limited, into itself as part of a strategic corporate restructuring. Majmudar & Partners provided legal counsel to facilitate this restructuring, advising on compliance, regulatory approvals, and tax considerations essential for the successful amalgamation.
Facilitating the Transaction
Majmudar & Partners played an important role in ensuring a smooth restructuring process for Glenmark Pharmaceuticals Limited through our assistance on:
- Regulatory Approvals: Assisted with obtaining necessary approvals from regulatory bodies, including the National Company Law Tribunal (NCLT), and facilitated communications with the Ministry of Corporate Affairs to ensure compliance with corporate restructuring regulations.
- Tax Planning and Compliance: Provided strategic tax planning advice to ensure an efficient tax structure post-amalgamation, minimizing tax liabilities and aligning with tax regulations affecting corporate amalgamations.
- Drafting Legal Documents: Drafted and reviewed essential legal documents for the merger, including the scheme of amalgamation, to ensure compliance with the Companies Act, 2013, and other applicable laws.
- Stakeholder Management: Coordinated with shareholders, creditors, and other stakeholders to ensure transparency, helping to streamline the approval process and maintain investor confidence.
- Due Diligence: Conducted a comprehensive due diligence review of Glenmark Generics Limited and Glenmark Access Limited, ensuring that potential liabilities were managed effectively, and that the merger aligned with Glenmark’s corporate goals and legal requirements.
Through the amalgamation of Glenmark Generics Limited and Glenmark Access Limited with Glenmark Pharmaceuticals Limited, the company achieved a streamlined operational structure, enhancing efficiency and strengthening its market position. Majmudar & Partners provided essential legal support, enabling the restructuring to proceed smoothly and in full compliance with regulatory requirements.
Majmudar & Partners has extensive experience in corporate restructuring and mergers, providing guidance on legal, regulatory, and tax matters to ensure successful outcomes. Contact us today to learn how we can help your organization with effective legal solutions for mergers and restructuring.