9911796707
TMI BlogAmendment of section 5X X X X Extracts X X X X X X X X Extracts X X X X ..... d) value of any transaction, in connection with acquisition of any control, shares, voting rights or assets of an enterprise, merger or amalgamation exceeds rupees two thousand crore: Provided that the enterprise which is being acquired, taken control of, merged or amalgamated has such substantial business operations in India as may be specified by regulations. (e) notwithstanding anything contain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roup means two or more enterprises where one enterprise is directly or indirectly, in a position to (i) exercise twenty-six per cent. or such other higher percentage as may be prescribed, of the voting rights in the other enterprise; or (ii) appoint more than fifty per cent. of the members of the board of directors in the other enterprise; or (iii) control the management or affairs of the other en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... whether direct or indirect, or deferred for any acquisition, merger or amalgamation; (e) the value of assets shall be determined by taking the book value of the assets as shown, in the audited books of account of the enterprise, in the financial year immediately preceding the financial year in which the date of proposed combination falls and if such financial statement has not yet become due to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness is being acquired, taken control of, merged or amalgamated with another enterprise, the value of assets or turnover or value of transaction as may be applicable, of the said portion or division or business or attributable to it, shall be the relevant assets or turnover or relevant value of transaction for the purpose of applicability of the thresholds under section 5.'. **************** ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
