Majority voting control preserved after strategic disinvestment preserves carryforward loss continuity for erstwhile public sector companies.

Amendment exempts an erstwhile public sector company from the change in shareholding bar on carry forward and set off of losses where, immediately after strategic disinvestment, the ultimate holding company continues to hold, directly or through subsidiaries, at least fifty one per cent of the voting power; failure to satisfy this condition in any post disinvestment previous year triggers application of the general prohibition for that and subsequent years. Definitions of "erstwhile public sector company" and "strategic disinvestment" are added.

---

---

---