Change in subsidiary shareholding excluded when foreign amalgamation or demerger preserves the same majority shareholders, limiting section 79. The amendment inserts a proviso specifying that the continuity provision will not apply to a change in the shareholding of an Indian company that is a subsidiary of a foreign company where the change arises from an amalgamation or demerger of a foreign company, provided that the majority shareholders of the amalgamating or demerged foreign company remain shareholders of the amalgamated or resulting foreign company.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Change in subsidiary shareholding excluded when foreign amalgamation or demerger preserves the same majority shareholders, limiting section 79.
The amendment inserts a proviso specifying that the continuity provision will not apply to a change in the shareholding of an Indian company that is a subsidiary of a foreign company where the change arises from an amalgamation or demerger of a foreign company, provided that the majority shareholders of the amalgamating or demerged foreign company remain shareholders of the amalgamated or resulting foreign company.
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